Former Chase Bank chairman held pending determination of bail request

June 28, 2017 (4 weeks ago) 5:59 pm
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Nairobi magistrate Martha Mutuku directed Khan to be detained until Thursday afternoon when she will decide whether he should be released on bail for conspiring to defraud the collapsed lending institution Sh1.6 billion/CFM NEWS

, NAIROBI, Kenya, June 28 – The court has directed that former Chase Bank chairman Mohammed Zarfullah Khan be remanded for a day at Kileleshwa police station pending determination of a bail request.

Nairobi magistrate Martha Mutuku directed Khan to be detained until Thursday afternoon when she will decide whether he should be released on bail for conspiring to defraud the collapsed lending institution Sh1.6 billion.

This is after the prosecution objected his release on bail claiming he is a flight risk since he is being investigated over the loss of Sh10 billion belonging to depositors.

“Owing to the seriousness of the charges he is facing he is likely to abscond trial,”Mungai submitted.
Khan took plea after the court rejected an application asking for deferment.

Lawyer Cecil Miller had pleaded with the court not allow his client plead to charges of conspiracy to defraud, money laundering and stealing on grounds that seven people named as his co-accused persons are yet to be arraigned in court.

Miller has asked the court to grant his client bail arguing there are no compelling reasons to deny Khan bail.

Miller had told the court that his client intends to travel out of the country to seek urgent medical attention in the USA where he needs to undergo a heart surgery.

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