Kibwezi West MP Patrick Musimba and his wife Angela Mwende have been released on a Sh 2 million cash bail pending the hearing and determination of their case.
The couple is charged alongside Chase Bank former boss Zafrulla Khan and five others with stealing Sh 1.1 Billion from the collapsed chase bank.
Senior Resident Magistrate Hellen Onkwani also directed that the two should not leave the country without the permission of the court.
The magistrate also lifted the warrants of arrest issued against the two since they appeared in court and pleaded to the charges.
Khan, Musimba and his wife are charged alongside Dancan Kabui Gichu, James Mwaura Mwenja, Makarios Omondi Agumbi, Lucien Sunter, Ronald Petrus Vlasman and their (Musimba’s) companies Porting Access Limited and Itecs Limited, with money laundering charges, stealing and conspiracy to defraud the bank.
The couple, Gichu,Mwenja and Agumbi have been in custody since 17th September pending their bail ruling after the prosecution objected their release.
All the accused persons were charged with conspiracy to defraud the Sh 1.1B by irregularly disbursing it to Porting Access Limited and Itecs Limited without following the payment process as stipulated under the finance policy of Chase Bank.
The Mp, his wife, Sunter, Vlasman and the two companies were charged with laundering Sh 409,682,900 by allegedly removing it from Chase Bank Internal Account and transferring it to an account domiciled at KCB Kipande Bank knowing that the money formed part of the proceeds of crime.
Zafrulla, Kabui, Mwenja and Agumbi also faced money laundering Charges of Sh 740,442,687.20 which they allegedly removed the bank’s internal account and facilitated its transfer to two accounts domiciled at Paramount Universal Bank.
They were also charged with stealing the 1.1 billion from the bank, which got into their possession by virtue of their employment.
The court heard that they committed the offense on diverse dates between 23rd January 2015 and 31st March 2016 at the Banks head office in Nairobi.
