MP Patrick Musimba, wife out on bail in Chase Bank Ksh1B fraud case

A Nairobi Court has released Kibwezi West MP Patrick Musimba and his wife Angela Mwende on bail after they denied charges of conspiracy to defraud Chase Bank of Ksh.1.1billion.

In her ruling, Senior Residence Magistrate Hellen Okwany also directed that the warrant of arrest against the two be lifted saying that they had already presented themselves for plea.

They were released on a Ksh.2million cash bail but ordered not to leave the country without the court’s permission and to deposit their traveling documents.

The MP was charged alongside Duncan Kabui (former Chase Bank MD), James Mwaura Mwenja (ex-General Manager, Corporate Credit) and Makarios Omondi Agumbi (former General Manager of Finance).

According to the charge sheet, the accused face four counts of conspiracy to defraud, stealing and money laundering.

They allegedly conspiring to defraud Chase Bank by irregularly disbursing Ksh.1.15 billion to two companies: Porting Access Limited and Itecs Limited between January 23, 2015 and March 31, 2016.