Businessman charged with obtaining Sh 135M worth of credit from Prime Bank, ASL credit

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A businessman has been charged with obtaining credit worth Sh 135 million from Prime Bank Kenya Limited and ASL Credit limited using a title deed of a land he had already sold.

Patel Ravji Laiji is charged alongside Cadilla Limited that on or about 17th of November 2011 at Prime Bank, Westlands Branch within Nairobi county, jointly with others not before court, in incurring debt or liability to the said bank, obtained credit to the amount of Sh 60 million by pretending that a title deed L.R No.109925 was a legitimate title deed for Cadilla limited, a fact he knew to be false having sold the said land to Sadat Macharia Muhindi.

The two are also charged that on or about 22nd August 2019 at ASL Credit Limited in Westlands, Nairobi, jointly with others not before court, in incurring debt or liability to Prime Bank, obtained credit to the amount is Sh 75 million from ASL by pretending that the said title deed was legitimate, a fact he knew to be false having sold the said land.

They denied the charges before Chief Magistrate Martha Mutuku and were released on a cash bail of Sh 3 million each.