Capital Markets Authority has warned that it will be blacklisting fraudsters soon. The capital markets regulator has expressed concerns over fraudulent instances that have been seen in several organizations in the country.

Capital Markets Authority chief executive Stella Kilonzo says fraudsters have been running down established and growing companies, a thing she says has been impacting negatively on new investors.

"CMA will blacklist all fraudsters so that they do not get accepted into other unsuspecting companies." She said and added that fraudsters have been running down companies and make away with it to join others and still get chances to spread the vice.

Kilonzo was commenting on the ousting of embattled CMC Chairman Peter Muthoka on Thursday. Commercial Court judge Daniel Musinga stamped Muthoka's removal from the CMC board, terming his reinstatement bid as 'not of interest' of the shareholders.