Indian in court for stealing shares worth Sh100m

An investor was yesterday charged at a Milimani court with 14 counts of stealing shares worth Sh100 million belonging to his two deceased company directors.

The 71-year-old Shahdadpuri Ghanshyam Choithram was further charged with forging company resolutions and unlawfully making a transfer deed, in the process disinheriting the heirs of the dead directors.

Choithram appeared before Milimani Principal Magistrate Bernard Ochoi and was charged with committing the offenses on the diverse dates between October 16, 2016, and June 13, 2018. 

The accused who denied all the 14 counts was also charged that on the same day without lawful authority, he made a statutory declaration dated October 14, 2016 purporting it to be a statutory declaration sworn by Mr Suresh Lakhani.

The prosecutor, James Gachoka asked the court not to grant the accused bond or bail because he was a foreigner and posed a major risk of evading justice as he was a flight risk.

The court will rule today whether to give the accused bond or not.