Dubai Bank directors protest delayed hearing

Dubai Bank Directors accused of money laundering are accusing the prosecution for delaying the hearing of their case.

Three former managers of the collapsed bank, Abdul Hafedh Zubeidi, Ali iBashir Sheikh and Professor Wilson Hassan Nandwa argue that the actions by the prosecution to adjourn the matter is unfair and  keeps on infringing their right to  a fair trial.

Through their lawyer Abdallah Busaidy, the directors requested the court to dismiss the case claiming that the prosecution has failed to prove the case against his clients.

However the prosecution has defended itself saying that the matter is being delayed by the Investigation Officer who has failed to bond witnesses to appear in court and testify.

Chief Magistrate Daniel Ogembo however said the defense has never opposed any application by the prosecution for an adjournment of the case and grant the prosecution the last adjournment.

“I will reluctantly grant the prosecution the last adjournment because they have sought for adjournment on several occasions unopposed,” Magistrate Ogembo said.

The accused are said to have transferred over Sh12 million of the banks fund through a dummy company, Runway Entertainment Private Limited in 2014.

The prosecution alleges that the trio knew the money was stolen from the bank for purposes of concealing or disguising the illicit origin of the money.

The Central Bank of Kenya placed Dubai Bank under receivership on August 2015 citing serious cases of parallel banking, interference with client accounts and a large number of unsecured loans.

The three also face another count of failing to comply with the provisions of section 45 (i) of the Proceeds of Crime and Anti money laundering act 2009.

All pleaded not guilty and were released on a cash bail of Sh3 million each.