Man charged with mortgaging vehicles worth sh228 million

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A business man has been charged with fraudulently disposing
mortgaged property worth ksh 228.1 million.

The man, Osman Abullahi Osman was arraigned in a Nairobi court where it is alleged that he disposed 24 motor vehicles worth sh 228,100,000 which had been mortgaged from Credit Bank Limited without the consent of the said Bank.


According to the Prosecution, the crime was allegedly committed between March 21 2016 and May 21, 2018 jointly with another person who was not in court.

Osman was further charged with three other counts of forgery.

Osman allegedly forged a Credit Bank banking slip of sh995,000 dated December 24 2018 purporting it to be genuine banking deposit slip for money deposited by him.

He is also accused of forging two other banking deposit slip of sh996,000 and sh998,000 purporting them to be genuine banking deposit slips which he then deposited at Credit bank in Ongata Rongai Branch.

He appeared before Nairobi Chief Magistrate Francis Andayi where he denied the charges and was released on a cash bail of ksh.500,000 with alternative bond of ksh 1 million.

The case will be mentioned on 23rd March 2019.

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