Kibwezi West MP Patrick Musimba Detained over Sh1 Billion Theft

Kibwezi West Member of Parliament Patrick Musimba was on Monday arraigned in court and charged with conspiracy to steal Sh1.15 billion from collapsed Chase Bank.

Musimba was charged before Magistrate Hellen Okwany alongside his wife Angela and three others. The MP and his co-accused denied the charges and were detained until Thursday when the court will hear and determine their application for bail. They will be held at Kileleshwa Police Station.

In their submissions, the prosecution urged the judge not to release the suspects on bail, arguing that the accused persons are likely to influence investigations.

Other suspects charged along the MP include former Chase Bank Managing Director Duncan Kabui, former General Manager, Corporate Credit James Mwaura Mwenja and former General Manager of Finance Makarios Omondi Agumbi.

Former Chase Bank Chairman Mohamed Zafrulla, who was charged in the same case, was freed on a Sh2 million cash bail pending trial.

They were charged with four counts of conspiracy to defraud, stealing and money laundering.

The accused allegedly conspired to defraud Chase Bank by irregularly disbursing Sh1.15 billion to two companies; Porting Access Limited and Itecs Limited between January 23rd, 2015 and March 31st, 2016.

They are accused of making cash transfers without following the laid out payment processes under the bank’s Finance Policy.