Former Chase Bank chairman Mohamed Zafrullah Khan was today charged with conspiracy to defraud the bank 1.6 billion.
Khan who is charged alongside seven other top chase bank officials denied five other theft and money laundering charges and was detained at Kileleshwa Police station until today when the court will rule whether to release him on bail.
The former Chase Bank Chairman’s co-accused persons Duncan Kabui(Director) James Mwaura(General Manager) Makarios Omondi, Abdul Ahmed, Harish Shah, Amira Claudia and Mohamed Nasrullah Khan were not in court.
The court heard that he intended to defraud the bank by falsely pretending that the disbursement of over 1.6 billion shillings from Internal account of Chase bank to the accounts of Camelia Investment Limited, Cleopartra Holdings Limited, Golden Azure Limited and Colnbrook Holdings Limited were genuine Loan facilities to the entities and were disbursed in the ordinary course of Loan process Flow.
The offense allegedly occurred between August 28, 2009, and March 31 2016 at Chase Bank Headquarters in Nairobi.
