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Imenti Central Member of Parliament Gideon Mwiti is on the brink of being declared bankrupt for his alleged inability to repay a Sh6.1 million bank loan obtained through a collapsed pyramid scheme.
If he is finally adjudged insolvent, Mwiti will become the second sitting Member of Parliament after Cabinet Minister Paul Ngei to be declared bankrupt.
And in effect, the MP will automatically lose his parliamentary seat and cease to hold offices such a directorship of a company or any other public office.
After Lady Justice Grace Nzioka dismissed his application to set aside the bankruptcy notice issued by a magistrates court on April 22, 2015, it became clear that until he appeals the decision, the High Court order technical…
Read the full article at: http://www.kdrtv.com/imenti-central-mp-mwiti-on-the-brink-of-being-declared-bankrupt/
