A Nairobi businessman was, on Monday, charged for defrauding a local bank up to Ksh228 million worth of cars.
New details revealed that businessman Osman Abullahi Osman systematically disposed 24 cars that had been mortgaged to the bank.
Osman reportedly committed the offence between March 21, 2016 and May 21, 2018.
The court was told that Osman, who also worked as a mortgagor with the credit facility at the center of the saga, disposed the motor vehicles without the consent of the bank.
Appearing before Nairobi Chief Magistrate Francis Andayi, the suspect was also charged with three other counts of forgery.
In the first count, he allegedly forged a deposit banking slip of Ksh995,000 dated December 24, 2018 and tried to pass it as genuine.
He further forged two other slips of the same bank valued at Ksh996,000 and Ksh998,000 to appear as if he had made the deposits.
He purported to have deposited the cheques to the bank via their Ongata Rongai Branch.
Osman, however, denied the charges and was released on a Ksh500,000 with an alternative of Ksh1 million bond.
The case is set to be mentioned on March 23, 2019.