Two men were today charged before a Mombasa court with stealing Ksh 200,585,052.00 and four other fraud-related counts.
Pavan Kentan Ramji Shah and Anderson Kombe Hare allegedly conspired to defraud Igsar Group Company Limited, Husaaba Trading Company Limited, Sunova International Limited and Inland Logistics.
The charge sheet states that they fraudulently withdrew the money from the three firms’ Absa Bank Kenya Limited account using Bwanyange Company Limited cheques.
Pavan was also charged with stealing by a servant contrary to section 281 of the penal code, chapter 63 laws of Kenya, in which it is claimed, he stole the money that came to him by being an accountant of the three firms.
He was also charged with false accounting contrary to section 328 of the penal code, Chapter 63 laws of Kenya, where it was alleged he made false entries in the said companies’ book of accounts for intercompany transactions, by filling falsified Bwanyange Limited ABSA bank cheques purporting that Ksh 200,585,052.00 was paid to the companies by Bwanyange Limited for payment of goods, forex trading remittances and other related transactions with Bwanyange Limited.
The offences were allegedly committed between 20 June 2018 to 30 September 2020 and 22 February 2021 at Igsar Group Kenya Limited offices at Canon Towers building in Mombasa County.
The accused persons, who pleaded not guilty, were each released on Ksh 5 million bond with two sureties.
The case being prosecuted by Prosecution Counsel Hilary Asiaho is scheduled for pre-trial on 26 March 2024.