Ex-Chase Bank boss Mohammed Zafrullah Khan faces Sh1.7bn fraud charge
Former Chase Bank chairman Mohammed Zafrullah Khan has been charged with conspiracy to defraud the lender of Sh1.7 billion.
Mr Khan was dragged to a Nairobi court on Wednesday after his arrest on Tuesday night.
STEALING
He faced several counts of stealing from the bank and one count of failing to comply with legal provisions on the Proceeds of Crime and Anti-Money Laundering Act.
He was further charged with failing to report suspicious transactions at the troubled lender.
Mr Khan denied all the charges before Senior Principal Magistrate Martha Mutuku.
His co-accused were not present in court.
He took the plea after the magistrate ruled that the High Court did not issue orders stopping him from doing so.
CORRUPTION
The arguments presented in court, the magistrate determined, did not indicate that the charge sheet had any defects as claimed by his lawyers.
On Tuesday night, officers from the Banking Fraud Investigations Unit arrested Mr Khan after Director of Public Prosecutions Keriako Tobiko ordered his prosecution.
His arrest followed corruption claims that led to the bank being placed in receivership.
Mr Tobiko had ordered that Mr Khan and six other officials be prosecuted. Police had not found the six other officials by the end of Wednesday.
Ngatia Ireri, the head of the Banking Fraud Investigations Unit, urged the six other officials to present themselves to police.
