MP Patrick Musimba, wife freed in Sh1bn Chase Bank fraud case

Kibwezi West MP Patrick Musimba and his wife Elizabeth Mwende have been granted a cash bail of Sh5 million each after being charged with six counts of stealing, money laundering and fraud.

The two have denied stealing over Sh1.15 billion from collapsed Chase Bank on diverse dates between January 25, 2015 and March, 2016.

Senior resident magistrate Hellen Onkwani gave the couple an alternative of depositing securities worth Sh30 million each.

She also directed the duo to deposit their passports in court saying they “should never travel abroad without the permission of court.”

Mr Musimba and his wife had been detained for four days at the Kileleshwa Police Station from Monday.

The magistrate also released three former Chase Bank senior managers charged alongside Mr and Mrs Musimba on a cash bail of Sh2 million each or a security bond of Sh10 million each.

The three are Mr Duncan Kabui, Mr James Mwaura Mwenja and Mr Makarios Omondi Agumbi.

At the same time, lawyer Cecil Miller availed Mr Nasrulla Khan to stand surety for the former chairman of the bank, Mr Mohammed Zafrulla Khan, who has been allowed to travel to the US for surgery.

“As you directed me on Monday, I have availed Nasrulla, a brother of the former chair of the bank to give an undertaking that the accused (Mohammed) returns to face trial after undergoing the heart surgery in the USA,” Mr Miller told the magistrate.

Mr Khan has since denied the six counts of fraud, theft and money laundering.

In another development, Ms Onkwani heard that two suspects, who have not been arrested over the multi-billion fraud, Lucien Sunter Vlasman and Ronald Petrus, are living in Netherlands and “that they are being pursued by International Police-Interpol.”

The case will be heard on December 4, 2018.

This article was published by the DAILY NATION on September 21, 2018