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A Company director has been charged with Sh 30 Million investiment fraud.
Keeru Ngugi Mucheru alias Gideon Magu Ngugi the director of Bidsworth Auto-Rent Company appeared before the Milimani senior principal magistrate Robinson Ondieki and denied seven counts of obtaining money by false pretences.
He was charged that on diverse dates between February 1 and 9, 2023, at Nairobi Central District CBD within Nairobi County, with intent to defraud obtained from Ng’enda Location Ranching Company Limited the sum of Ksh 30 million.
Mucheru is said to have pretended that he would invest the money in his company where he would give Ng’enda company 15 percent monthly interest, a fact he knew was false.
In the second count, he was charged with obtaining Ksh 2,950,000 from Monicah Muthoni Kariuki by falsely pretending that he would invest the money in his company and give the complainant a monthly interest of 15 percent.
In another count, he is charged with obtaining Sh 1million from Winnie Odoyo by enticing her to invest the money in his company where she would be earning a monthly interest of 15 percent.
He was further charged with similar charges of obtaining a total of Ksh 2.9 million from Naibei Chepkorir, Agnes Wanjiru and Valentine Mwaura Njenga assuring them to earn a monthly interest of 15 percent.
He denied the charges and pleaded with the court through his lawyer to be released on lenient bond terms claiming he is not a flight risk,
“Your honour i plead with this court to release the accused person on lenient bond terms with consideration that he is not a flight risk and also his age,” the defence lawyer prayed.
The prosecution did not oppose his release on bond but urged the court to consider the amount involved and release him on reasonable bond that commensurate the figures in the charge sheet.
He was released on bond of Ksh 2 million with a surety of similar amount or alternative cash bail of Ksh 500,000 with a contact person.
The matter will be mentioned on April 23, 2025 for pre-trial and directions.
