Two directors of a land-buying company in Machakos on Friday denied 10 counts of obtaining money by false pretences and conspiring to defraud a company of its land valued at Sh54.8 billion.
Muthiani Mwangangi and Eveline Mbithe, of New Konza South Ranch Limited, faced Milimani Senior Principal Magistrate Kennedy Cheruiyot.
They were accused of fraudulently obtaining more than Sh1.1 million from several people and conspiring to defraud Kapiti Plains Estate Limited of the Sh54.8 billion on or before January 20, 2017.
Mr Mwangangi and Ms Mbithe applied for release on reasonable bail terms saying they were sickly.
State prosecutor Kennedy Panyako did not oppose the request so the court granted them release on cash bails of Sh300,000 each.
Their case will be mentioned on January 25.
The court heard that police were pursuing four officials of four companies that fraudulently acquired hundreds of millions of shillings from residents under similar circumstances.
The four operated from rented offices at Chunbi town at the Machakos junction.