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MP Patrick Musimba, wife released on bail in fraud case

By Dorcus Osongo | Published Thu, September 20th 2018 at 12:34, Updated September 20th 2018 at 12:39 GMT +3
Kibwezi West MP Patrick Musimba
Kibwezi West MP Patrick Musimba

Kibwezi West MP Patrick Musimba and his wife Angela Mwende have been released on bail by a Nairobi Court after they denied charges of conspiracy to defraud Chase Bank of Sh1.1billion.

The two were released on a Sh2 million cash bail. They were ordered not to leave the country without the court’s permission.

ALSO READ: Don Bosco handed five years in jail for fraud

Senior Residence Magistrate Hellen Okwany directed in her ruling that the warrant of arrest against the two be lifted since they had already appeared in court for plea.

James Mwaura Mwenja (ex-General Manager, Corporate Credit), Duncan Kabui (former Chase Bank MD), and Makarios Omondi Agumbi (former General Manager of Finance) were also charged alongside Musimba.

Also charged in the same case is Former Chase Bank Chairman Mohamed Zafrulla who is out on Sh2million cash bail pending trial.

The accused allegedly conspired to defraud Chase Bank by irregularly disbursing Sh1.15 billion to Porting Access Limited and Itecs Limited between January 23, 2015 and March 31, 2016.

These transfers are said to have been done by the accused without following the payment process as stipulated under the bank’s finance policy.

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They also face money laundering charges for allegedly benefiting from the transfer of Sh740,442,687 from Chase Bank to Paramount Universal Bank and another Sh409,682,900 to KCB by their co-accused.

According to the charge sheet, the accused face four counts of conspiracy to steal, money laundering and fraud

ALSO READ: Kibwezi West MP, wife detained over Sh1 billion theft


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