Connect with us

Business News

MP wants Sh3m bail refund in bank theft suit

Published

on

Loading...

[ad_1]

News

Kibwezi West MP Patrick Musimba
Kibwezi West MP Patrick Musimba at a Milimani court, Nairobi, on September 17. PHOTO | DENNIS ONSONGO 

Kibwezi West MP Patrick Musimba, who is charged together with his wife Angela Mwende with the theft of Sh1.1 billion from the collapsed Chase Bank, has urged the High Court to reduce his Sh5 million cash bail.

Mr Musimba asked Lady Justice Ngenye Macharia to reduce the amount to Sh2 million and refund him Sh3 million.

He said other suspects linked to the suit were offered lighter bail terms of Sh2 million and a bond of Sh10 million with one surety.

Loading...

Mr Musimba, his wife Mwende, and their two companies Porting Access Ltd and Itecs Ltd were charged with stealing Sh1,150,125,587 between January 23, 2015, and March 31, 2016 from Chase Bank.

They denied six counts of stealing, money laundering and conspiracy to defraud.

They were jointly charged with former senior managers of the collapsed bank Duncan Kabui (director), James Mwaura Mwenja (general manager corporate credit), and Makarios Omondi Agumbi (general manager). They denied the charges.

Mr Musimba paid the cash bail on September 20 after being detained for three days at Kileleshwa Police Station together with his wife. He also paid Sh2 million cash bail for his wife.

His lawyer, Steve Kimathi, further urged the judge to quash a condition that Mr Musimba and his wife, a director of Eco-Bank, deposit their passports in court until the case is determined.

State prosecutor Carol Sigei opposed the plea, saying their cases involve loss of huge sums of depositors’ cash and their movements should be monitored hence the passport order.

[ad_2]

Loading...
Advertisement
Loading...
Loading...

Facebook

Loading...

Trending