Crane Bank was yesterday put under receivership by the Central Bank.
Economists attribute the bank’s poor performance to bad loans.
Among these bad loans is one taken but city businessman, Tom Kaya of the ‘Kaki Investments’ (Taxis).
It is said, Kaya, who recently donated a Range Rover to singer Eddy Kenzo and believed to be worth over Shs200million. He owes Crane Bank over Shs2billion.
Reports indicate his businesses along with others like Spencon
Buildings have been put under receivership.
Though, it’s not yet confirmed whether Kenzo’s car is part of the
vehicles that are to be attached.