3 Former Directors of Chase Bank Freed on Sh2 Million Bail Each

Three former directors of Chase Bank have denied charges of stealing over Sh1 Billion from the financial lender.

Duncan Kabui, James Mwaura and Makarius Omondi were on Thursday freed on a Sh2 Million cash bail each pending determination of the case.

Last month, former Chase Bank Chairman Mohammed Zafrullah Khan was freed on Sh60 Million bond.

Mr Khan was ordered to pay Kenyan sureties of Sh30 Million each over theft and money laundering charges.

Khan had earlier on been charged with conspiracy to defraud Chase Bank of Sh1.7 Billion.

The former Bank Manager was accused of acquiring his wife, Shehla Khan, a vintage Ferrari Dinoworth Sh45.5 Million and a limited edition Chevrolet Corvette for Sh12.7 Million using Chase Bank funds without following due process.

 

 

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