Tycoon Yagnesh Devani Wanted in Ksh1.5B Kipevu Jet Fuel Scandal
A Nairobi court has authorized the issuance of an arrest warrant for Yagnesh Mohanlal Devani, a prominent entrepreneur, who stands accused of allegedly pilfering a Kipevu fuel jet valued at Ksh1.5 billion via his company, Triton Petroleum Company Limited.
Milimani’s Senior Principal Magistrate, Robinson Ondieki, authorized Devani’s arrest following his failure to appear in court proceedings on Tuesday, March 26, 2024.
Warrant of arrest issuance
When granting the arrest warrant requested by the Director of Public Prosecutions (DPP), the Magistrate observed that Devani, who is currently out on bail of Ksh 1 million, has a habit of failing to attend court hearings for his case unless compelled to do so by the court.
The Director of Public Prosecutions, represented by prosecutors Eliphas Ombati and Jeremiah Walusala, requested the court to issue an arrest warrant for the businessman. This request was made due to his absence from the pretrial conference of his case, which he did not explain.
“We ask the court to issue an arrest order against Devani as the date was taken in the presence of the accused person and his lawyers,” Prosecutor Ombati told the Magistrate.
During the pursuit of the warrant, the prosecution described Devani’s failure to attend court proceedings as unreasonable. This was highlighted by an incident on February 12, 2024, when the court once again had to enforce his presence within 30 minutes of the case’s mention.
ALSO READ:
- Gachagua Assembles Elite 20-Lawyer Squad to Fight Impeachment
- Exposed: Web of 19 Companies That Could Make or Break Gachagua in Impeachment Battle
- Makau Mutua Predicts Rigathi Gachagua Will Resign Before His Impeachment on Tuesday
- CSs Joho, Mbadi & Barasa Announce Key Appointments
- Ruto’s Ksh303B Borrowing Pushes Public Debt to Ksh10.5 Trillion, Set to Reach Ksh13 Trillion by 2028
In January, Devani, who had evaded capture for 16 years, was extradited from Britain and held in custody at Muthaiga police station.
On January 23, 2024, law enforcement brought him before Magistrate Ondieki, where he refuted four charges brought against him regarding the unauthorized sale of petroleum products obtained through loan arrangements provided to his company, Triton, by KCB bank.
In 2023, there’s talk of Devani reaching an agreement with high-ranking government figures to relocate from London to Nairobi to address the charges against him, as he was facing an arrest warrant.
As per the allegations made by the prosecution, Devani utilized his company Triton to conduct the operations.
He departed for the United Kingdom when his fellow defendants faced charges and the court issued an arrest warrant for him.
Charges against Devani
The allegations against him claim that from April 23 to December 4, 2008, at the Kipevu Oil Storage Facility in Mombasa County, along with accomplices not currently facing charges, he unlawfully took 2,000 metric tonnes of Automotive Gas Oil worth US$ 215,934, belonging to KCB.
During proceedings, it was stated that from May 15, 2008, to December 4, 2008, at the Kipevu oil storage facility in Mombasa County, in collaboration with unidentified individuals not present in court, the accused participated in the theft of 418.134 metric tons of premium motor spirit, worth US$ 438,031.10, belonging to Kenya Commercial Bank.
The case will be mentioned on April 15, 2024
Tycoon Yagnesh Devani Wanted in Ksh1.5B Kipevu Jet Fuel Scandal
