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Tycoon Yagnesh Divani has finallyvbeen charged with Sh 7.6B fraud.
He faced 11 counts of petroleum fraud charges where the prosecution opposed his released on bail .
The prosecution while opposing his release said that he is a flight risk.
The defence counsels led by moses kurgut hillary kiplagat and Kennedy Echesa made an application to have him released on bail saying that their client was in the UK before the case was filed.
The court is set to deliver a ruling whether he will be released on bail on 19th August 2024,for now he will be remanded at industrial area prison.
He has been charged following a warrant of arrest issued in 2009.
His advocate pleaded with the Court to release him on bond pending plea taking. However, the prosecution objected saying the suspect has been on the run for the last 16 years and he was only brought to Court under warrant of arrest after the Government of Kenya through the office of the Attorney General successfully convinced the United Kingdom Court to order his extradition to Kenya.
Milimani Anti-Corruption Court Chief Magistrate Thomas Nzyoki declined to grant him bond pending plea taking.
Devani is expected to be charged afresh in relation to the Triton case.
The prosecution told the court that they intend to file new charges against Devani so that they don’t interfere with the case of the other accused persons which is at its tail end.
The case involved charges of conspiring to defraud a number of petroleum companies by purporting that Triton had diesel ready for sale at KPC storage in Kipevu.
