Dubai bank directors in court over Sh48M fraud allegations

Five Dubai bank directors and senior officials have been charged at a Nairobi court with conspiracy to defraud Bank of Africa over Sh 48 million.
The five- Abdul Hafeth Zubeidi, Ali Basher Sheikh, Adam Ali Mwanaidi, Robert Gitobu Kimonye- are sued together with Dubai Bank Kenya Limited.
They appeared before Senior Principal Magistrate Martha Mutuko and denied the charges. The court heard that the accused committed the offence on July 2, 2015 at Dubai Bank Kenya and Bank of Africa Kenya.
The officials are said to have conspired jointly with others who were not before the court to defraud Bank of Africa of Sh 48,180,000.The plea against three other co-accused who failed to appear before the court was deferred to July 28.

The three are Professor Wilson Hassan Nadwa, Faith Wairimu Munyori and Mary Immaculate Nyawira who were said to be unwell.
Defense Lawyer Karathe Wandugi urged the court to release them on favorable cash bail because they are facing other similar charges at the magistrate's court thus not a flight risk.
"The accused are facing financial constrains because they have not been in business for the last few years," said Wandugi.
He added that in the other matter, some of the accused were slapped with Sh3 million bonds a condition that have really affected them.
Wandugi added that Nadwa was informed about the plea taking on Wednesday while he was at Nanyuki where he is facilitating a function.
He told the court that the suspect has never been formerly summoned to appear in court and is willing to cooperate with the investigation officers.
Nyawira was said to have been admitted to Nairobi hospital and could not make it to court for plea taking.
Wairimu who also failed to appear in court was said to have been in the state of shock after she received the news about plea taking.
Prosecutor Duncan Ondimu in response to the application for the deferral of the plea said the fact that someone is in shock is not enough reason to differ plea against all the accused.
"The other matter the accused are referring to is different from this one and thus they should take plea," said Ondimu.
Ondimu added that the accused should present themselves before the Investigation Officers for finger taking.
Magistrate Mutuko released the accused on Sh 1million bond or a cash bail of Sh 300,000.The case will be mentioned on July 28.

Business
Premium Ruto's food security hopes facing storm amid fake fertiliser scam
Business
Premium Nairobi business community plans protest as over 700 containers held at port
Real Estate
Premium Affordable housing: Will State's data-backed action now pay off?
Real Estate
Premium Building to the skies, but at what cost?