?Real estate developer in court for issuing 10 bouncing cheques worth over Sh9 million

Businessman Faiz Mbarak Salim in Mombasa Law Courts where he is charged with issuing 10 bouncing cheques to businessman Suleiman Ali Mohamed

A real estate developer charged with issuing 10 bouncing cheques worth over Sh9 million has averred to pay his debtor Sh36 million within a month's time.
Faiz Mbarak Salim admitted to issuing bouncing cheques to his co-businessman and friend Suleiman Ali Mohamed in May 2017.
Salim who appeared before Resident Magistrate Edgar Kagoni pleaded for more time to source for funds and pay Mohammed.
"I have not refused to pay Mohamed his money. There are some issues I am trying to seek and will pay him," said Salim.
Kagoni however warned Salim of hefty penalties should he fail to pay off Mohamed.
The magistrate directed Salim's lawyer Igunza to advice his client to pay the sum or face a hefty fine.
"This is a serious matter that attracts hefty fines in case of default.  Let him understand the consequences of defaulting to pay a debt. Just pay off the money that you borrowed before the courts intervenes. You should not subject us to your personal issues," warned Kagoni.
The magistrate said that one month was sufficient for the parties to come to an agreement.
Mohamed said that Salim had borrowed Sh36 million from him in 2016 to invest in business but delayed to pay the funds and when he finally did, he sent him bouncing cheques.
"I had given him the money to invest in business but he has delayed to pay me back and when he did, he sent me 10 cheques worth Sh9, 050,000 that bounced. I will agree to a one month period to have him source for funds even though he defaulted the three month period agreed earlier," Mohamed told the magistrate.
It is alleged that Salim on diverse dates between May 2 and June 16 2017 in Mombasa he issued cheques worth the foresaid amount.
On June 16. 2017 Salim issued seven bouncing cheques worth Sh950, 000 each, on May 2, 2017 he issued a cheque worth Sh600, 000 and two more worth Sh900, 000 respectively.
The case is set to be heard on March 26, 2018.