Home Court News Man charged with Sh 500M gold scam.

Man charged with Sh 500M gold scam.

A  Man has been charged with over half a billion shillings gold fraud.

by Robert Guyana

A  Man has been charged with over half a billion shillings gold fraud.

Fredrick Thuranira M’iburi appeared before Milimani Chief Magistrate Susan Shitubi and denied one count of defrauding Vanadze Ramiz Sh 597 million.

The court was informed that he committed the offense on diverse dates between April 7, 2023 and May 18, 2023 at an unknown place within the Republic of Kenya, jointly with others not before court.

He is accused of obtaining USD 4,424,500 equivalent to Sh 597,307,500 by falsely pretending that he was in a position to transport 161,000 kg of gold bars from the property of Vanadze Ramiz FROM Kenya to either Dubai or Tibilis Georgia.

Through his lawyer Karathe Wandugi, the accused pleaded with the court to be released on favorable bond terms since the prosecution did not oppose bail.

“My client has been unwell and has been seeing a psychiatrist so he needs his medication, “said Wandugi.

The lawyer also wanted to be supplied with original copies of the Investigation diary and OB.

Thuranira was released on a bond of Sh 3M without an alternative of cash bail.

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