The Securities and Futures Commission (SFC) issued a statement on Tuesday formally disowning former senior analyst Yonasan Tibenderana, who was arrested last week by the National Identification and Registration Authority (NIRA) on suspicion of fraud involving falsified identity documents. The SFC clarified that Tibenderana had not been employed by the regulator for over a year and that any statements he made in the media about the commission’s policies were made in a personal capacity. “We condemn any fraudulent activity and cooperate fully with law enforcement,” the statement read. Tibenderana’s legal counsel has requested bail, arguing that the charges are politically motivated, while the NIRA has pledged to pursue the case to the fullest extent of the law.
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