Three former Chase bank directors have been charged with conspiracy to defraud the bank of over 1.6 billion shillings and stealing.
Duncan Kabui Gichu, James Mwaura Mwenja, Makarios Omondo Agumbi are part of eight former Chase bank officials summoned to answer to the charges.
This comes a month after the former Chase Bank chairman Zafrullah Khan pleaded not guilty to charges of fraud.
Particulars of the offence
The three were charged that between August 28th 2009 and March 31st 2016 conspired with intent to defraud Chase Bank limited by means of pretending that the disbursement of 1.6 billion shillings they effected from internal account of the Bank to the accounts of Camelia investments Limited, Cleopatra Holdings Limited, Golden Azure Limited and Colbrook Holding Limited were genuine loan facilities to the entities and were disbursed in the ordinary process of loan process flow.
The accused are alleged to have committed the offence jointly with another before court at the Bank’s Headquarters in Nairobi.
Gichu is facing three other counts of stealing over 3 .1 billion shillings from the said bank.
The three appeared before Principle magistrate Martha Mutuku and pleaded not guilty to all charges.
Their lawyer Cecil Miller who is also on record for the Ex Chair Zafrullah Khan requested the magistrate to release his clients on similar bond terms those of Khan, that is, a bond of Sh 5 million or a cash bail of Sh 2 million each.
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Miler prayed that they preferably be release on cash bail as it is easier to process.
The Magistrate released them on similar terms and directed the case be mentioned on August 3rd and issued summons to the remaining four accused persons.
