A pilot and a businessman have been charged with fraudulent disposition of mortgaged property worth Sh228 million from Credit Bank Limited contrary to the law.
Osman Abdullahi Osman and Gullet Abdullahi Osman who appeared before Milimani court magistrate Kennedy Cheruiyot are alleged that on 21st March 2016 and 21st May 2018 jointly with others not before court mortgaged 12 motor vehicles all valued at Sh228 million from the bank with intent to defraud.
They are also facing other charges of forgery. Particulars are that on the date with intent to defraud they forged a deposit slip for Sh996,000 and deposited it at the bank’s Ongata Rongai branch.
They face a total of five counts raging from fraud and forgery of various banking slips.
They denied all the charges and were released on cash bail of Sh500,000 each.