COURT ISSUED WARRANT OF ARREST AGAINST TANZANIAN NATIONAL IN SH700 MILLION FRAUD CASE.

BY SAM ALFAN.

A Nairobi Court has issued warrant for the arrest of Tanzanian national Guarav Jayeshkumar Kotecha for failing to appear for plea taking in a loan fraud case.

The businessman is accused of colluding with another director of Midland Hauliers to transfer ownership of trucks owned by the logisitcs company, and which were used as security for a Sh700 million loan.

Milimani Senior Principal Magistrate Bernard Ndungi issued the arrest warrant against Kotecha and Super Hakika limited for failing to appear in court despite being served with summons.

The magistrate ordered that the arrest warrant to be enforcement by interpol police as the businessman is in the UK where he is studying.

His father has already pleaded to the charges after he was presented in court.

A drama ensued outside the courtroom as detectives waited to pounce on him but his lawyers intervened and made an undertaking to present him to the police when required.

The charges are that Kotecha and Super Hakika limited conspired to transfer three vehicles.

They allegedly committed the offence on April 29, 2019 at Midland Hauliers limited (under administration) offices along Kyangombe road in Nairobi, being directors and company respectively.

The court heard that they committed the offence with intent to defraud Prime Bank Limited Sh706, 980, 273 by transferring three motor vehicles from Midland Hauliers to Hakika limited without the administrator’s authority.

The prosecution told the court that on that the same dates in the year 2019 at Midland Hauliers, the accused persons disposed the three vehicles from Midland Hauliers to Hakika limited without the administrator’s authority.

Kotecha is further alleged that on April 29, 2019 at Midland Hauliers limited offices being director of the company performed a management function to transfer three motor vehicles from Midland Hauliers to Hakika limited without the administrator.

Jayesh and Midland Hauliers are also facing charges of failure to submit statement of the company affairs to the appointed administrator and failure to give the appointed company administrator information concerning the company contrary to section 679(3)(a) of insolvency Act.

They were released on a bond of 5million or cash bail of 2 million pending their criminal trial.

Jayesh was also directed to deposit his passport in court after denying the charges.

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