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Two Directors of TRV Towers Limited have been charged with Sh 112M fraud.
Tribhovan Anlalji Chavada and his son Jayesh Rribovan Chavda both directors of TRV Towers limited have appeared before magistrate Benmark Ekhubi and denied the charges.
According to the charge sheet, Tribhovan Anlalji Chavada on diverse dates between October 18, 2019 and July 31, 2023 allegedly stole Ksh 112 M, money which came to to his possession by virtue of his employment as the managing director TRV Towers.
Tribhovan Anlalji Chavada was charged alongside his son Jayesh Rribovan Chavda for allegedly conspiring to defraud TRV Towers limited Ksh 112M.
They both faced another charge of unlawfully making Bank of Baroda account opening documents purporting them to be genuine.
Appearing before Magistrate Benmark Ekhubi, the two directors denied the charges.
Counsel Justice Mutava representing the Victim in court urged the court to impose stringent bail terms given the colossal amount of money believed to have been stolen by the two accused directors.
Justice Mutava also informed court that the accused directors holds dual citizenship for United Kingdom and Kenya and hence the propensity of fleeing from the Jurisdiction of the Court was very high.
He pleaded with the Court to order the accused persons to deposit their passports in Court until the case is heard and determined.
“The first accused person is a managing director for the complainant, in that regard he exalts a lot of power in the company, we pray that an order be issued blocking him from meddling with the affairs of the company, the first accused person is in control of many accounts of the company, we pray that the court issues and order freezing these accounts during the hearing of this case to avoid withdrawal of funds from these accounts.” submitted Justice Mutava before Court.
In his ruling, Magistrate Benmark Ekhubi said he will not interfere with the matters of the accounts but urged the complainant to file a formal application for the freezing of the accounts.
The two accused persons were released on Ksh 200,000 and Ksh 150,000 respectively. The case will proceed on November 13,2024.
