BY IRENE ONYANGO.
A Milimani magistrate declined request by oil tycoon Yagnesh Devani to address the court as he pleaded to be released on bond.
Anti-corruption Chief Magistrate Thomas Nzioki rejected the request by Devani who wanted to persuade the court as to why he should be freed on bond.
The tycoon, who had just denied a total of 11 counts related to the release of oil worth Sh7.6 billion in 2008, asked to be granted five minutes for the court to hear him out.
The magistrate, however, declined the request and urged Devani to make the application through his lawyers led by Moses Kurgat.
In the application, Kurgat told the court that Devani was not a flight risk as flew back in the country immediately after losing a petition seeking to block his extradition to Kenya.
He further denied going into hiding maintaining that he left the country for UK before the charges were brought against him.
Kurgat said Devani owns at least 40 percent of shares in the oil business in Kenya, is a holder of a Kenyan passport and that he and his whole family reside in the country. He said Devani does not intend to flee Kenya.
In a short ruling, Nziko directed Devani to be held at Industrial area remand pending, a ruling on the application on whether he will be freed on bond. The magistrate ordered for a probation report on him.
Devani denied 11 counts related to release of mortgaged petroleum products without the consent of the mortgagee.
The charges include conspiracy to defraud, obtaining, and abuse of office and neglect of official duties.
One of the counts stated that he released a total of 19,186.130 cubic meters of diesel with intent to defraud Emirates National Oil Company Ltd of Singapore, the mortgagee.
The charge sheet stated that committed the offence on 4th September 2008, in Nairobi, being a director of Triton company ltd. The oil was valued at more than $10,446,888.36 and Sh 32,047,783.66.
The billionaire was further been charged with disposing of 675.592 cubic meters valued at $550,020 to Total Kenya Ltd without the consent of Emirates National Oil Company (Singapore) Ltd while being the Director and a mortgagor of a volume of 4,261.203 cubic meters of Jet A 1(Aviation Fuel).
Additionally, Devani has been charged with Conspiracy to defraud Kenya Shell Ltd $2,246,491.34 and Sh 7,059,201.59 in reference to his position as the Senior Management of Triton Petroleum as a Director by purporting that the Triton Petroleum Company Limited had a volume of 4,449.42 cubic meters of diesel (AGO) held by Kenya Pipeline Company Limited at the Kipevu Oil Storage Facility that was available for sale.
