A businessman has been charged with conspiracy to steal over 159 million from Dubai Bank Kenya Limited (in liquidation).
Zein Abubakar Said is accused of committing the offence on unknown dates and place within the republic of Kenya jointly with others not before court.
Said further faced a second count of stealing Sh 159,877,892.99, property of the bank between 17th January 2002 and 26th June 2015 at Dubai Bank Kenya Limited office in Nairobi.
He denied the charges before Senior Principal Magistrate Martha Mutuku. The prosecution did not object to his release on bail but requested that the matter be consolidated with another of a similar nature already before court.
The Magistrate directed that the matter be heard on 23rd November but will be mentioned on 5th September for pre-trial, further directions and consolidation.
He was granted a cash bail of Sh 200,000.
The Bank’s former chair Hassan Zubeidi who faces two prosecution on two criminal cases at the Magistrate’s court moved to the High Court last year seeking to stop his prosecution.
Zubeidi obtained orders stopping his arrest but allowed the Directorate of Criminal Investigations (DCI) to record his statement which would help police in their investigations.
The former boss is opposing his prosecution over alleged malpractices at the bank which collapsed in the year 2015.
He accused the DCI of persistently engaging in actions aimed at incriminating him with all manner of protracted misdeeds that affected him.
However, the office of the Director of Public Prosecution (DPP) and the DCI (respondents in the suit) opposed the suit challenging his prosecution and prayed that it be dismissed by the court for lack of merit.
“The matter is of public interest and the process of investigations or the subsequent charge does not infringe his constitutional rights,” reads court papers.
The DPP argued that it commenced the prosecution of Zubeidi based on sufficient evidence provided by the DCI.
The respondents claimed that there are sufficient safeguards available to Zubeidi during the process of trial in two criminal cases at the magistrate court.
On May 7th 2018, Justice Chacha Mwita extended the orders stopping his arrest until 3rd October, 2018 when the case will be heard.
The bank was put under receivership in August 2015 by the Central Bank of Kenya (CBK).