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Seven face extra expenses in Chase Financial institution fraud go well with

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Seven face extra expenses in Chase Financial institution fraud go well with


Chase

Former Chairman of Chase Financial institution Mohammed Khan listens as his Lawyer Cecil Miller argues earlier than a Nairobi Regulation Court docket on September 13,2018. PHOTO | EVANS HABIL | NMG

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Abstract

  • Seven individuals amongst them former chairman of collapsed Chase Financial institution Mohammed Khan may face further expenses after the prosecution indicated receiving new info regarding the fraud.  
  • Showing earlier than senior principal Justice of the Peace Bernard Ochoi, the prosecution mentioned the brand new info may result in the modification of the cost sheet.
  • The courtroom heard that the prosecution wanted one month for the Director of Public Prosecutions Noordin Haji to assessment the file and provides instructions and provide the brand new info to the defence legal professionals.

Seven individuals amongst them former chairman of collapsed Chase Financial institution Mohammed Khan may face further expenses after the prosecution indicated receiving new info regarding the fraud by which they allegedly stole Sh1.1 billion from the financial institution.

Showing earlier than senior principal Justice of the Peace Bernard Ochoi, the prosecution mentioned the brand new info may result in the modification of the cost sheet.

The courtroom heard that the prosecution wanted one month for the Director of Public Prosecutions Noordin Haji to assessment the file and provides instructions and provide the brand new info to the defence legal professionals.

Mr Ochoi nevertheless allowed the prosecution three weeks to determine, after which he’ll give instructions on the listening to of the case, which is but to start out nearly three years after the accused individuals had been charged.

Chase Financial institution Kenya Ltd went into receivership in April 2016 after failing to satisfy its monetary obligations.

Within the case, former financial institution chairman Mohammed Khan has been charged along with six others over alleged theft of Sh1.1 billion.

The previous Financial institution boss has denied a number of expenses together with conspiracy to steal and cash laundering, after he was accused of eradicating completely different quantities from an account held on the financial institution and transferring the identical to Paramount Common Financial institution realizing or with causes to imagine that the cash shaped a part of proceeds of crime.

Others going through expenses are Duncan Kabui, James Mwenja and Makarios Agumbi, Kibwezi West MP Patrick Musimba, Angela Musimba and Lucien Sunter, Porting Entry Ltd and Itecs Ltd.

They’re accused that between January 23, 2015 and March 31, 2016 on the financial institution’s head workplace, they conspired to steal the quantity from the lender. Mr Khan faces further expenses of utilizing his place as a director to steal.

The prosecution additionally looked for time to substantiate whether or not one of many accused individuals will probably be extradited from the Netherlands to face the costs.

Mr Kabui, Mr Mwenja and Mr Agumbi are accused of facilitating the switch of Sh740,442,687 from two accounts at Chase Financial institution to Paramount Common Financial institution, knowingly or fairly should have identified that the cash was a part of proceeds of crime.

Mr Musimba, Ms Musimba and Sunter are accused of transferring Sh409,682,900 from Chase Financial institution to Kenya Business Financial institution, but they should have identified that the cash shaped a part of proceeds of crime.



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