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Court pushes hearing on Sh8.7bn fraud at TSS companies to September

From left: Victor Were, Aweys Ahmed, Zein Ahmed, Zahir Abbas and  James Mwangi  at the Mombasa Law Courts, March 23 2017. PHOTO | PHILIP MUYANGA | NMG
From left: Victor Were, Aweys Ahmed, Zein Ahmed, Zahir Abbas and James Mwangi at the Mombasa Law Courts, March 23 2017. PHOTO | PHILIP MUYANGA | NMG 

A case in which five men have been charged with conspiracy to defraud the late business tycoon Tahir Sheikh Said of Sh8.7 billion will be heard in September.

The case had been fixed for hearing Monday and Wednesday but the trial court is not sitting.

The accused are Mr James Mwangi, Aweys Ahmed, Zein Ahmed, Zahir Abbas and Victor Were. The case has now been fixed for hearing on September 12.

According to the prosecution, the accused jointly with others not before court conspired to defraud the late Said who was popularly known as TSS, the money.

The court heard that the accused conspired to defraud the deceased by filing false share transfer and change of directorship of TSS Group of companies with the Registrar of Companies by pretending that he (deceased) had voluntarily released his shares to Isha Said.

The offence is alleged to have been committed on diverse dates between February 8, 2011 and October 29, 2015 at TSS Grain Millers in Mombasa.

The accused were also charged with forging deed of guarantee and indemnity purporting it to be genuine made by the late tycoon to enable them secure a bank loan of Sh1.5 billion from Kenya Commercial Bank #ticker:KCB .

The accused also face six other counts of forgery.

Mr Mwangi and Mr Aweys Mohamed have been charged with stealing valuation reports, certificate of lease, PIN certificate and feasibility study booklet belonging to the deceased.

The two were also charged with an alternative count of handling stolen goods.
The accused have denied the charges and are out on a Sh3 million bond with a surety of similar amount.

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