Kipsigis Stores Limited Director has been charged with Sh 30M bank fraud.
Samwel Mutai has appeared before magistrate Lucas Onyina and denied the charges.
He was charged that on July 31,2013 at Diamond trust bank ltd,Kericho County,being the director of Kipsigis Stores Limited,jointly conspired with intent to defraud Diamond Trust Bank by obtaining loans amounting to Sh 30M which he defaulted and fraudulently disposed of.
Mutai,together with Alfred Kipkorir and John Ferdnandes were charged in the second count with fraudulent disposition of mortgaged property contrary to the law.
Warrant of arrest was issued against Kipkorir and Ferdnandes for failure to appear in court for plea taking
The accused were charged that on August 15,2018 within the Republic of Kenya,being the Director of Kipsigis Store Limited and a mortgage of motor vehicle,with intent to defraud,jointly disposed the said mortgaged property without the consent of Diamond Trust Bank limited.
The accused faced three more counts of similar nature.Through his lawyer,he requested for leniency saying that he is not a flight risk and he has cooperated with investigation.
He said he is a family man and is willing to abide in any terms.The company that he is charged together has since been requidated.
The accused added that Diamond trust bank directors should be arrested but for him he has been brought unlawfully.The accused said that he is currently unemployed.
He said he is a victim of web of offense committed by other persons.Have since spoken to IO and are looking for actual directors of the company.He was released on Sh 1M or a cash bail of Sh 500,000
