Man charged with Sh 1.6 million fraud over commercial paper

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A businessman has been charged with with obtaining Sh 1.6 million in commercial paper business.

John Wainaina Kamau is accused of obtaining the money from Lorna Nyaga Wanja by falsely pretending that he was in a positio to sell her commercial paper, a fact he knew to be false.

He is alleged to have committed the offence on 12th October 2018 at Imarisha Capital offices in Westlands area, Nairobi, with intent to defraud.

Kamau is also facing a charge of issuing bad cheques for Sh 300,000 and another for Sh 500,000 in favour of Wanja on 15th September 2020 at Imarisha Capital offices.

He denied the charges before Chief Magistrate Francis Andayi and was granted a bond of Sh 300,000 with alternative cash bail of Sh 150,000.