Ex-Chase Bank boss to stay in custody for two more days
Sickly ex-Chase Bank boss Mohammed Zafrullah Khan will remain in police custody until Wednesday when he will know whether his bond terms will be reduced, about eight days after his arrest.
Senior principal magistrate Martha Mutuku on Monday postponed her ruling on the matter to July 5.
She was set to deliver the verdict in the afternoon following a request by the former bank manager to have his Sh60 million surety bond reduced.
But Ms Mutuku directed later that Mr Khan and his lawyers Cecil Miller and Peter Wena should appear before her on Wednesday for the verdict.
The magistrate last week ordered the accused to present two Kenyan sureties to deposit Sh30 million each so as to be released from police custody since his arrest last Tuesday.
Mr Khan was charged with conspiring to defraud the lender about Sh 1.7 billion, stealing monies and failing to comply with provisions of the proceeds of crime and anti-money laundering Act, offences which he pleaded not guilty.
Earlier in the day, Monday, his lawyers requested the court to have the bond reduced and claimed that Mr Khan's ill health had deteriorated and that he was not in a position to travel out of the country for the open heart surgery he was to undergo.
Mr Miller said the suspect intends to seek urgent medical attention in the country, therefore, the orders issued by the High Court which had allowed him to be issued with his passport and also seek medication in the US within 30 days could simply lapse without being followed.
The lawyer further claimed that Mr Khan would not be able to comply with court orders already issued and added that his released passport would be presented before the magistrate's court.
"The orders issued could be overtaken by events or have already been overtaken since the accused is too ill to travel," he said.
But prosecution through state lawyer Warui Mungai protested against the request to have the bond terms reviewed.
Prosecution last week disclosed that Mr Khan could be slapped with other criminal charges of defrauding depositors of Chase Bank huge sum of monies based on an investigation by the Banking Fraud Investigation Unit.
This article was published by the BUSINESS DAILY on July 3, 2017