Kibwezi Legislator ,Wife And Chase Bank’s Ex-Executives Denied Bond Over Sh 1.15 Billion Theft Case

by Mahakamani News
Kibwezi MP Patrick Mweu Musimba and his wife  Angela Mwende Musimba before Court

Kibwezi Member of Parliament Patrick Musimba, his wife and three past executives of Chase Bank were denied bond over theft of Sh1.15 billion from lender as its former chairman was granted a Sh2 million cash bail and allowed to travel to the US.

Mr Marimba, his wife Angella Mwende and former Chase Bank CEO Duncan Kabui , Mr James Mwaura Mwenja (general manager) and Mr Makarios Omondi (general manager) will remain in custody until Thursday when their bail application will be determined by a magistrate.

Mr Musimba and his wife dashed to court to secure their freedom upon learning that warrants of their arrests had been issued afresh.

Senior resident magistrate Ms Hellen Onkwani turned down a bail plea to release Mr Musimba on a personal bond to attend to urgent parliamentary business today.

Ms Onkwani concurred with state prosecutors James Warui Mungai and Ms Ruby Okoth that “Mr Musimba is a suspect facing charges of stealing billions of depositors’ money from the bank.”

The court released the former chairman of the bank Mr Mohammed Zafrulla Khan then allowed him to fly to the United States of America for a heart surgery.

He was directed to avail a close relative to guarantee he will ensure Mr Khan returns to Kenya for trial after the procedure.

Mr Khan was charged on Thursday last week and denied six counts against him, including stealing, money laundering and conspiracy to defraud the bank, which is at the centre of a multibillion-shilling fraud.

The accused were charged with stealing Sh1.15 billion from Chase Bank between January 23 2015 and March 2016 and also conspiring to defraud the fallen bank the money by irregularly disbursing the said amounts to Porting Access and Itecs Ltd without following the payment process as stipulated under the finance policy of the bank.

Porting Access Limited and Itecs Limited are linked to Mr Musimba and his wife Mr Khan has been separately charged with stealing the money by virtue of his employment.

Mr Khan, Mwenja, Kabui and Agumbi also face money laundering charges by removing Sh740,442,687 from the collapsed bank to Paramount Universal Bank.

The five also face another money laundering by removing Sh409,682, 900 from Chase Bank to Kenya Commercial Bank.

Mr Musimba, his wife Angela Mwende also face money laundering charges by allegedly benefiting from the said Sh409,682,900 which had been removed from Chase Bank to KCB , Kipande Branch.

Chase Bank went into receivership in April 2016 after failing to meet its financial obligations. Mauritius’s SBM Holdings last month completed its purchase.

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