Two charged with conspiracy to defraud heirs of deceased directors shares worth 100 million

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Philemon Morara Apiemi before court where he pleaded not guilty to the charges

Two people have been charged with stealing one million Global Apparels Kenya (EPZ) limited shares valued at  Sh 100 million from the heirs of two deceased directors.

Shahdadpuri Ghanshyam Choithram who was not present in court and Philemon Morara Apiemi are accused of jointly conspiring to defraud heirs of Mr. Suresh Lakhiani and Narain Choithram (both deceased) the directors of Global Apparels Kenya Limited 250,000 ordinary shares valued at Sh 25 million and 750 preferential shares valued at Sh 75 million by falsifying the company’s resolutions, transfer deeds and statutory declaration to the benefit of Ghanshyam, a fact they knew to be false.

The two are alleged to have committed the offence on diverse dates on 16th October to 13th June 2018 while purporting to be a director of Global Apparels Kenya (EPZ) limited and an external advocate Global Apparels Kenya respectively with others not before court, at an unknown place within the republic of Kenya.

Ghanshyam is also facing several charges of stealing the said shares at the registrar of companies in Nairobi between 2016 and 2018.

The two are further charged with several counts of making documents without authority to wit the said company’s resolutions and transfer deed and other counts of uttering the false documents at the registrar of companies.

Apiemi denied the charges before Senior Principal Magistrate Bernard Ochoi and was released on a cash bail of Sh 500,000 each.