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Trader in fraud case pays back Sh10m

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Published on Tuesday, 15 February 2011 22:54
A businessman facing fraud charges yesterday told a Nairobi court he had deposited Sh10 million in a bank to repay the money he allegedly stole.

Mr Don Bosco Ooga Gichana said he deposited the money after a judge last week ordered that he be arrested and locked up until he paid the money. Mr Gichana and five other people are facing theft and fraud charges involving Sh96.7 million. Mr Gichana, who opted to return the allegedly stolen money, was directed by Justice Mohammed Warsame to deposit the money in court before he could be released as "he is a flight risk."

The judge ordered him to pay Sh10 million to Fina Bank before February 8. He directed the other five to be kept in custody until an undertaking of Sh10 million is made available to the Deputy Registrar from Rachier & Amolo Advocates law firm.

Justice Warsame had told the five suspects that he will enhance the Sh1 million cash bail given to them by principal magistrate Grace Macharia in November last year.

The new development came when Gichana and his co-accused, among them his sister Gladys Moraa, said Fina wanted to settle out of court.

So far, Sh58 million that had been frozen in various bank accounts have been wired back to Fina Bank. The accounts that received the money from Fina Bank are operated by Gichana, Graham Rioba Sagwe Obadia Nyambane Gware, lawyer Albert Simiyu Kuloba and Robert Moseti Onkwami.

Justice Warsame had directed Barclays Bank and Commercial Bank of Africa to unfreeze the accounts and return the money to Fina Bank.

Mr Sagwe and Donbosco Gichana are accused of conspiring to defraud Garden Real Estate Development Ltd of Sh96.7 million on November 12.