Ksh1.5B Kipevu jet fuel scam: Court issues warrant of arrest against tycoon Yagnesh Devani

By , K24 Digital
On Tue, 26 Mar, 2024 19:15 | 2 mins read
Yagnesh Mohanlal Devani. PHOTO/Screengrab/YouTube.

A Nairobi court has issued a warrant of arrest against business tycoon Yagnesh Mohanlal Devani who is accused of stealing Kipevu fuel jet worth Ksh1.5 billion through his Triton Petroleum Company Limited.

Milimani Senior Principal Magistrate Robinson Ondieki issued the arrest order against Devani after he skipped court proceedings on Tuesday, March 26, 2024.

Warrant of arrest issuance

While issuing the warrant of arrest as sought by the Director of Public Prosecutions (DPP), the Magistrate noted that Devani who is out on Ksh 1 million cash bail had developed a tendency of not appearing in court for mention of his case unless compelled by the court.

The DPP through his prosecutors Eliphas Ombati and Jeremiah Walusala urged the court to issue a warrant of arrest against the businessman after he failed to appear in court for the pretrial conference of his case without an explanation.

"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.

While seeking the warrant, the prosecution termed Devani behavior of not attending court as absurd since on February 12, 2024, the court again had to compel him to appear in court within 30 minutes for the mention of the case.

Devani, who had been on the run for 16 years was extradited from Britain in January and detained at Muthaiga police station.

On January 23, 2024, police presented him before Magistrate Ondieki where he denied four counts preferred against him over the irregular sale of petroleum products acquired through loan facilities given to his firm Triton by KCB bank.

It is said that Devani struck a deal with top government officials in 2023 to leave London for Nairobi to take the plea. He had a warrant of arrest on his head.

According to the prosecution, Devani used his company Triton to carry out the business.

He left for the United Kingdom when his co-accused were charged and the court issued a warrant of arrest against him.

Charges against Devani

The charges against him state that between April 23 and December 4, 2008, at Kipevu Oil Storage Facility in Mombasa county, jointly with others not before the court, he stole 2,000 metric tonnes of Automotive Gas Oil valued at US$ 215,934, the property of KCB.

The court was told that between May 15, 2008, and December 4, 2008, at the Kipevu oil storage facility within Mombasa County, jointly with others not before the Court, stole 418.134 metric tons of motor spirit premium valued at US$ 438,031.10, the property of Kenya Commercial Bank.

The case will be mentioned on April 15, 2024

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