FORMER CHASE BANK BOSS GRANTED SH 10 MILLION BOND.

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Former Chase Bank Chairman Mohammed Zafrullah with his lawyer Cecil Miller inside a courtroom waiting for a ruling on Wednesday June 28,2017 / PHOTO BY S. A. N.
BY SAM ALFAN.

A Nairobi court has down-scaled stringent bond terms imposed on former Chase Bank chairman Mohamed Zafrullah Khan.

Khan who had been directed to deposit a total of 60 million shillings will now secure his freedom after depositing a cash bail of 2 million shillings with one Kenyan surety.

Mutuku further directed the accused person to comply with the condition set by the investigating officer. Khan was also directed not to abscond court proceedings adding that the 2 million shillings surely deposited by the Kenyan will be forfeited if he does not appear in court for proceedings.

Trial magistrate Martha Mutuku said that the application by Khan to have the terms reviewed are genuine.

Mohamed Zafrullah Khan is accused of conspiring to defraud the bank over 1.6 billion Shillings.

Last week Principal Magistrate Martha Mutuku ordered him to present two Kenyan sureties to deposit 60 million Shillings so as to secure his release.

The bond terms had been granted on the grounds that the High Court had issued orders that would have seen him given his passport so as to travel to the US for treatmentĀ in 30 days.

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Am the founder of www.nairobitimez.com.Am a seasoned court reporter previously worked with citizen TV and Kenya News Agency. Passionate about reporting on constitutional matters and business stories. Sovereign Media Network is the proprietor of Nairobi TIMES -www.nairobitimez.com website.

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