JUDGMENT OF THE COURT
Trust Bank Limited, the appellant is a company incorporated in Kenya to conduct business as a bank while the respondents were its employees. The 1st respondent was its Executive Chairman, 2nd respondent the Executive Director in charge of International Division, the 3rd respondent was the Manager, Correspondent Banking and the 4th respondent the Personal Assistant to the 1st respondent.
By an amended plaint dated 16th July, 2001 the appellant sought to recover the sum of USD 2,693,258 and Kshs. 266,888,741 plus compound interest, general damages and costs from the respondents for allegedly embezzling those sums through fraudulent schemes; that the respondents in breach of their statutory duties as trustees of the appellant’s property, conceived the idea of obtaining money by fraud from the appellant using their positions of employment; that on 11th May, 1998, in the implementation of the said fraudulent scheme, the 1st and 2nd respondents contacted four overseas ba…