Kenyans who lost money through fraudulent Chase Bank activities have something to ponder.
Its former Chairman Mohammed Zafrullah Khan and other directors accused of conspiracy to defraud the bank over Sh1.6 billion have been charged afresh.
This is to fortify the charges.
Prosecution alleges that on December 31st 2015, the accused person’s stole Sh483,328,000 million from the said Bank.
The prosecution has also pressed another alternative count of stealing by directors.
The other directors are accused of stealing almost half a billion from Chase Bank.
The prosecutor claims that the directors together with others defrauded the bank by alleging that they had cleared Sh1.6 billion loans to various companies.
“Between August 2009 and March 2016 at Chase Bank headquarters in Nairobi, you conspired, with intent to defraud the bank, by pretending that the disbursement of Sh1.6 billion had been transferred from internal account of Chase Bank to the accounts of Camelia Investments Limited, Cleopatra Holdings Limited, Golden Azure Limited, and Colbrook Holding Limited,” state the charge sheet.
Lawyer Cecil Miller for the accused asked the court to grant lenient bail term to Charges against Amira Claudia Wagner Khan and Mohammed Nasrullah Khan saying that the two are facing two counts and that one of them is unwell.
Magistrate Martha Mutuku reduced the bail terms to a cash bail to Sh500,000 each.
She said that since the two accused face only two charges, she will consider their application.
The case will be heard on July 17, 2018.
