NAIROBI, Kenya, Sept 14 – Former Chase Bank chairman Zarfulla Mohammed Khan and Kibwezi West MP Patrick Musimba are facing charges of stealing over Sh1 billion from the bank.
Khan, the lawmaker, his wife and five others are accused of conspiring to steal Sh1,150,125,857 from the bank between January 2015 and March 2016.
Khan and his co-accused have also among other charges been accused of money laundering before Senior Resident Magistrate Hellen Okwani.
The court was told that Khan jointly with others, withdrew different amounts from an account held at the bank and transferred the same to Paramount Universal Bank yet they knew the monies were proceeds of crime.
Others who face charges include Duncan Kabui, James Mwenja and Makarios Agumbi, Lucien Sunter and Ronald Vlasman.
Warrants of arrests against Musimba, his wife, Sunter and Vlasman were issued after they failed to appear in court to take plea. Khan who denied the charges was detained at the Kileleshwa Police Station until Monday after the prosecution opposed his release on bail.
The prosecution opposed the release of Khan saying Banking Fraud Investigations Department was still conducting investigations.
State Counsel James Warui asked the court to consider the colossal amounts involved and the likelihood of him absconding trial.
Magistrate Okwani heard that his family lives in the USA and the possibility of remaining there is high.
But lawyer Cecil Miller for Khan opposed Warui’s application arguing he was ready to abide by any conditions that will be set by the court.