Ex-Chase Bank boss Mohammed Khan gets Sh60m bond
A Nairobi court has ordered former Chase Bank chairman Mohammed Zafrullah Khan to present two Kenyan sureties totalling Sh60 million to secure his freedom pending his trial.
Senior Principal Magistrate Martha Mutuku made the order on Friday and indicated that she would issue a detailed ruling next Monday.
MEDICATION
And since Mr Khan’s lawyers had told the court on Wednesday that he was to travel to the US to seek medical treatment within 30 days, the magistrate allowed him to make travel arrangements.
She, however, directed that Mr Khan deposit his passport in court after the expiry of the 30 days.
“Bond is hereby granted in the following terms: that the accused shall present two Kenyan sureties of Sh30 million each and who should be verified by the investigating officers,” said Ms Mutuku.
Mr Khan was on Wednesday charged with conspiring to defraud the lender of about Sh 1.7 billion, stealing money and failing to comply with the provisions of the Proceeds of Crime and Anti-Money Laundering Act.
He denied the charges.
