ALLEGED INDIAN FRAUDSTER CHARGED WITH ATTEMPT TO OBTAIN 520M FROM VICTORIA BANK

BUSINESSMAN USES FAKE SECURITY TO OBTAIN 520M

By Chris Ojow

Nairobi’s Senior Principal Magistrate

Wandia Nyamu has issued a warrant of

arrest against the second accused Nina

Jayesh ShangHavi fair failing to appear

before the lower Criminal Court to plead

to charges of obtaining execution by

false pretences.

As the first accused Jayesh Shanghavi

who was arrested on Thursday 25th

November year 2021 , was arraigned in

Court and charged with fraud.

The Managing Director of the Good Earth

Group pleaded not guilty for attempt to

obtain a loan of 520million Kenya

shillings from Victoria Commercial Bank

using a fake security .

The prosecution said Jayesh attempted to

defraud Victoria Commerical Bank Sh 520

million using a faked value security to

obtain the loan.

He was released on a bond of one million

surety of the same or a cash bail of

400,000 thousand Kenya shillings .

The State Prosecutor has lineup several

witnesses to testify against the

accused.