High Court has reduced cash bail issues to Kibwezi Member of Parliament and his wife from 5 million to 2 million pending hearing and determination of the case.
The court also reduced bond terms from 30 million issued by the trial magistrate to 10 million.
Justice Ngenye Macharia set aside bond terms issued by the trial court from bond of 30 million to 10 million.
“The order of the learned trial magistrate releasing Patrick Musimba and Angela Musimba on a bond of 30 million with two sureties of similar amount is hereby set aside and substituted with an order that MP Musimba shall deposit a bond of 10 million with a surety of a similar amount or cash bail of 2 million,” ruled Judge Ngenye.
Lady Justice Grace Ngenye Macharia ordered the excess cash bail of 3 million paid by the MP shall be refunded to him.
The judge ordered the two accused passports shall remain in the trial court until the determination of the trial.
“The two are however at liberty to apply for their release if need be before the trial magistrate,” further ordered.
However, court dismissed allegations MP Musimba that he was coerced to take plea on behalf of the two companies Porting Access Limited and Itecs Limited accused person “Consequently, it is the finding of the court that the plea was properly taken,” said the judge.
The MP filed an application seeking high court to quash orders issued on 20 of September by trial magistrate Hellen Okwani that admitted the accused on cash of 5 million and bond of 30 million and two sureties of similar amount.
He claimed he learnt through the media that charges had been preferred against him and he was not served with summons.
Musimba is charged together with his wife Angela Mwende with the theft of Sh1.1 billion from the collapsed Chase Bank, has urged the High Court to reduce his Sh5 million cash bail.
He argued other suspects linked to the suit were offered lighter bail terms of Sh2 million and a bond of Sh10 million with one surety.
Mr Musimba, his wife Mwende, and their two companies Porting Access Ltd and Itecs Ltd were charged with stealing Sh1,150,125,587 between January 23, 2015, and March 31, 2016 from Chase Bank.
They denied six counts of stealing, money laundering and conspiracy to defraud.
They were jointly charged with former senior managers of the collapsed bank Duncan Kabui (director), James Mwaura Mwenja (general manager corporate credit), and Makarios Omondi Agumbi (general manager). They denied the charges.
Other former Chase bank directors charged with money laundering charge’s before a Nairobi Court.
Former bank directors Dancun Kabui Gichu, Makarios Omondi Agumbi and James Mwaura Mwenja and Mohammed Zafrulla Khan who is represented by lawyer Cecil Miller.
They were accused between 16 of September ,2014 and 3 of March ,2015 at Chase Bank (K) Limited Head office in Nairobi ,Jointly conspired together to commit a felony namely stealing USD 5,475,801,92 from Chase Bank Limited.
They are also facing money laundering charges.
It is alleged Dancun Kabui Gichu, Mohammed Zafrula Khan, Makarios Omondi Agumbi James Mwaura Mwenja between 16 of September 2014 and 31 March ,2015 at Chase Bank Limited Head office in Nairobi City knowingly or while reasonably ought to have known that USD 2,510,099,91 formed part of the proceeds of crime , removed the said Chase Bank internal account number 0004005510002 and facilitated the transfer of the same amount to account number AE15033000010494309702 domiciled at Mashreq Bank ,Dubai in the name of Emmar properties of PJSC.
Prosecution further alleged that between 30 of September, 2014 and 3 of March 2015 at Chase Bank Nairobi, jointly stole USD 5,475,801,92 the property of Chase Bank Limited.
