Businessman charged with fraudulent deposition of mortgaged property worth millions


A businessman has been charged before a Nairobi Court with fraudulent deposition of mortgaged property worth Sh 228 million.

Osman Abdullahi Osman, a mortgagor, is accused of mortgaging goods from Credit Bank Limited with intent to defraud.

Osman is said to have disposed motor vehicles worth USD 2,281,000 (228,100,000) from the Kenyan boundaries without the consent and knowledge of the said bank.

The court heard that the accused committed the offence on diverse dates between 21st March and 21st May 2018.

Osman was also charged that on unknown dates , time and place in Kenya, jointly with others not before court, with intent to defraud or deceive , forged Credit bank banking deposit slip for Sh 995,000 dated 24th December 2018 purporting it to be a genuine banking deposit slip for money deposited by him at the bank’s Ongata Rongai branch.

The mortgagor is further charged with two counts of forging banking slips.

He denied the charges before Chief Magistrate Francis Andayi who granted him a bond of Sh 1 million. He was given an alternative of Sh 500,000 cash bail.

The case will be heard on 2nd May.