Warrants of arrest issued against Dubai Bank directors

By: VINCENT AGOYA

A Nairobi court has issued warrants of arrest against the directors of Dubai Bank in a case in which they are accused of money laundering.

In the case, the chief executive officer and an operations manager are separately charged with the theft of Sh12 million from their employer.

Mr Butaa Binay and Deeraj Kumar Baghel are accused of stealing Sh12,639,006 between April 28, 2014 and September 14, 2014 at Dubai Bank, Moi Avenue, Nairobi.

Other directors are Mr Abdul Hafedh Zubeidi, Mr Ali Bashir Sheikh, Mr Wilson Hassan Nandwa, who are accused of failing to comply with the requirements of section 44, 45, 46 of the proceeds of crime and anti-money laundering Act in that they failed to carry out due diligence of a customer before opening account no. 81176973 in the name of Runway Entertainment Private Limited, a company that the prosecution says “did not exist.”

The Nairobi chief magistrate issued the warrant against the five following an application by Assistant Director of Public Prosecutions Mary Oundo.

“The accused having failed to appear to honour summons for plea, warrants of arrest are thus issued against them,” the magistrate said.

Ms Oundo had told the court that the suspects were informed in advance to appear in court but had chosen not to.

However, their lawyer, Mr Paul Wathuta, said they were notified on Thursday night and some are not in the country and were unaware that there were proceedingss.

“They are nonetheless willing to come to court only that they have not seen the summons,” he said.

The suspects are expected in court on December 2.

SOURCE: DAILY NATION