The Youth in Business Africa founder has been charged with defrauding an Asian company over Sh 38 million in a non-existent gold sale.
Tim Orao Shikalo alias Vincent Oloa Wanton is accused of obtaining USD 265,200 (Apprx. Sh 38,188,800 from Asianic Limited by falsely pretending that they were in a position to sell 580 kgs of gold to them, a fact he knew to be false.
Shikalo is alleged to have committed the offense on diverse dates between 1st February 2024 and 2nd August 2024 in Nairobi, Kenya.
In another count, the accused is charged with conspiracy to defraud Asianic Ltd the said money, jointly with another already before court.
He denied the charges before Senior Principal Magistrate Ben-Mark Ekhubi and was granted a bond of Sh 3 million with one surety of a similar amount.
Alternatively, he can deposit a cash bail of Sh 800,000 and provide one contact person to secure his release.
