Businessman Yagnesh Devani was finally been charged for stealing 318.656 Metric tons of Jet Fuel valued at USD 365,974.05 the property of Kenya Commercial Bank.
Devani has been on the run since 2008 when he is said to have committed the offence.
He struck a deal with top government officials in 2023 to leave London for Nairobi to take the plea.
He had a warrant of arrest on his head.
In the deal, Devani was allowed to fly to Kenya despite the warrant in place and take plea ahead of the planned prosecution which will end the case.
He used his company Triton in carrying out the businessman, the court was told Thursday.
He left for the United Kingdom when his co-accused were charged and the court issued a warrant of arrest against him.
He was suddenly Thursday produced before Senior Principal Magistrate Robinson Ondieki where he denied four charges of stealing.
Read: Oil Tycoon Yagnesh Devani To Be Extradited To Kenya To Face Ksh7.6 Billion Fraud Charges
The prosecution told the court that between April 23 and December 4 2008 at Kipevu oil storage facility within Mombasa County, jointly with others before court, he stole 2,000 Metric tons of Automotive Gas Oil valued at USD 215,934, the property of Kenya Commercial Bank.
The court was told between May 15 2008 and December 4 2008 at Kipevu oil storage facility within Mombasa County, jointly with others before Court, stole 418.134 Metric tons of Motor spirit Premium valued at USD 438,031.10, the property of Kenya Commercial Bank.
Trial Magistrate was further told that between November 2, 2008 and December 4, 2008 at Kipevu oil storage facility within Mombasa County, jointly with others before Court, stole 12,782 Metric tons of Automotive Gas oil valued at USD 7,999,691.39 the property of Kenya Commercial Bank.
The accused was released on a cash bail of Sh1 million plus one contact person.The Criminal case will be mentioned on February 12, 2024 for Pretrial.
Devani has been on the run and the case proceeded in his absence.
Extradition proceedings were initiated against him but they were still incomplete at the time the state was closing its case.
Efforts to have him extradited have been unsuccessful.
In 2011, Kenya filed an extradition request to have Devani brought to Kenya to answer charges of defrauding the Kenya Commercial Bank, Emirates National Oil Corporation of Singapore.
In 2013, Kenya filed another extradition request alleging Devani had also defrauded the global banking firm Fortis.
Overall, he faces 19 counts of financial crimes.
Devani challenged both requests, dragging the matter through UK courts.
In May 2020, the Court of Appeal in the UK dismissed his application seeking asylum in the UK, effectively allowing his extradition to Kenya to face several charges of fraud.
The oil scam, often known as the Triton Scandal, was allegedly made through Devani’s company, Triton Petroleum Ltd. The firm, in which Devani was executive chairman, landed a lucrative tender to supply oil under a system introduced to help local oil firms.
A former employee of Kenya Pipeline Company will have to defend himself over accusations of stealing Sh2.1 billion worth of oil.
Benedict Mutua Mbuvi was charged alongside Devani and Triton Energy Limited 14 years ago with stealing 12,623,239 metric tonnes of Oil valued at USD 17M, the property of Fortis Bank.
The offence was committed in August 2007 at Kipevu Oil Storage Facility within Mombasa District.
A court last year found Mbuvi, a former technician at the state corporation has a case to answer after the prosecution called 17 witnesses in the case.
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