Two men charged with stealing over Ksh 200 milllion from 4 companies through fraud (PHOTOs).

 

Tuesday, March 12, 2024 - Two men were on Monday charged before a Mombasa court with stealing Ksh 200,585,052.00 and four other fraud-related counts.

Pavan Kentan Ramji Shah and Anderson Kombe Hare allegedly conspired to defraud Igsar Group Company Limited, Husaaba Trading Company Limited, Sunova International Limited, and Inland Logistics by fraudulently withdrawing the money using falsified cheques.

Pavan was also charged with stealing by servant, contrary to Section 281 of the Penal Code, in which it is claimed that he stole the money that came to him by virtue of being an accountant of the three firms.

He was also charged with false accounting contrary to Section 328 of the Penal Code, Chapter 63 of the laws of Kenya, where it was alleged he made false entries in the said companies’ book of accounts for intercompany transactions by filling out falsified Bwanyange Limited ABSA bank cheques purporting that Ksh 200,585,052.00 was paid to the companies by Bwanyange Limited for payment of goods, forex trading remittances, and other related transactions with Bwanyange Limited.

The offences were allegedly committed between 20th June 2018 to 30th September 2020 and 22 February 2021 at Igsar Group Kenya Limited offices at the Canon Towers building in Mombasa County, within the Republic of Kenya, respectively.

The accused persons, who pleaded not guilty, were each released on a Ksh 5 million bond with two sureties.

Senior Resident Magistrate Hon. Gladys Olimo issued arrest warrants against Alex Mutemi Mwenga, Robert Wangila Wandera, and Barnabas Agar. The case being prosecuted by Prosecution Counsel Hilary Asiaho is scheduled for pre-trial on 26th March 2024.