Couple released on a 2 million cash bail in fraud case
05 September 2016, 21:02
Nairobi - A couple charged of defrauding their customers in an online foreign exchange business were on Monday released on a cash bail of Kshs. 2 million by a Nakuru law court.
George Gabriel Kiguru and Jane Nduta Kiguru were jointly charged of obtaining Kshs. 42 million from 7 businessmen with an intention to defraud pretending that they were in a position to open an online foreign exchange company.
Through their lawyer, Wachira Waiganjo, they had earlier requested the court to release them on a cash bail so that they could fast track payment of the said amount to the complainants.
Waiganjo told the court that there might have been a miscommunication since the accused persons had explained the current financial constraints of the company identified as Sparkle Investment and due to this, they were ready to make refunds.
It was however noted that the account where the complainants deposited their cash was empty and further the two had been operating foreign accounts in the United Kingdom and Bulgaria.
Prior to this accusation, they were jointly charged of defrauding 9 investors of approximately Kshs. 1 billion in which they denied the charges and were each released on a bond of Kshs. 10 million.
Senior Principal Magistrate, Liz Gicheha gave this directive and slated the hearing date for 21st November of this year.
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