Ex-Chase Bank chairman pleads with court to reduce his bond terms

Chase Bank photo:courtesy

A former Chase Bank chairman pleaded with the court to soften his bail terms, claiming that he was ill.

Mr Mohammed Khan, who is charged with conspiracy to steal Sh1.6 billion from the lender, was last week ordered to deposit two sureties worth Sh30 million each as part of his bail terms.

Through lawyer Cecil Miller, Khan told the Nairobi court that he was ill and could not meet the bail terms imposed on him, saying they were too harsh.

“The orders issued by this court have been overtaken by events. The accused person is also too ill to travel,” Miller told the court, adding that his client was ready to surrender his passport to the court to prove that he was not a flight risk.


Last week, Mr Khan pleaded not guilty to a charge of planning to defraud the bank of Sh1.6 billion. He is facing four other criminal charges, among them stealing.


Chase Bank boss arrested, to take plea over fraud

 The prosecution had objected to his release on bail, arguing that he was a flight risk and that he was still being investigated for the loss of an additional Sh10 billion from the bank.

Mr Khan had obtained orders from the High Court, allowing his passport to be released to him so he could leave for the US to seek medical treatment for 30 days.

Chase Bank was placed in receivership in April last year and has already been put up for sale. 



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