A director of Kipsigis Stores Limited has been charged with conspiracy to defraud Diamond Trust Bank Limited over Sh 30 million.
Samwel Mutai is charged alongside the company and other directors, Alfred Kipkorir Mutai and John Fernandez Muiga.
Alfred Mutai and Muiga did not a appear in court to plead to the charges and a warrant of arrest was issued against them.
The Mutai’s and Kipsigis Stores are accuses of jointly conspiring to defraud DTB by means of obtaining loans amounting to Sh 30,888,000 against several collaterals which they fraudulently disposed.
It is alleged that the offense was committed on diverse dates between 31st July and 24th August 2013 at DTB Kericho branch.
The accused persons are also charged with fraudulent disposition of mortgaged property.
According to the charge sheet, the accused persons disposed of four mortgaged trucks without consent of DTB, the mortgagee.
This offenses were allegedly committed on diverse dates between 2018 and 2020.
Mutai denied the charges before Chief Magistrate Lukas Onyina and was granted a cash bail of Sh 500,000.
The case will be mentioned on 7th April 2025 for pre-trial.
