Business Director Released on Bond in Sh357 Million Theft Case

Strategic Insights -

A court in Kenya released a company director on bond over allegations of stealing Sh357 million from Oki General Trading Limited. Honey Khatwani, the sole breadwinner for his family, pleaded not guilty to the theft charge, and his lawyer argued that lenient bond terms were necessary to ensure his attendance in court. The prosecution, however, requested strict bond conditions due to the significant amount involved in the charges. Khatwani, an Indian national, is accused of embezzling Sh356,711,174.40 between January 2020 and June 2024.

Key Takeaways:

  • Honey Khatwani, a director of Oki General Trading Limited, was charged with stealing Sh357 million but released on a Sh5 million bond.
  • Khatwani's lawyer, Kennedy Echesa, requested lenient bond terms, citing that his client is the sole breadwinner for his family and employs over 50 Kenyans.
  • The prosecution, through counsel Victor Owiti, asked the court to impose strict bond conditions due to the severity of the offense and the amount involved in the charges.
  • Khatwani pleaded not guilty to the theft charge, and the matter has been mentioned for pre-trial directions on August 14.
  • The accused was directed to deposit his passport in court as part of the security.
  • Khatwani's company, Oki General Trading Limited, is based in Baba Dogo, Ruaraka constituency, Nairobi County.

Statistics:

  • Sh357 million: the amount stolen by Honey Khatwani, according to the charge sheet.
  • Sh356,711,174.40: the exact amount stolen by Khatwani between January 2020 and June 2024.
  • 50: the number of Kenyans employed by Khatwani through his Oki General Trading Limited company.
  • Sh5 million: the bond paid by Khatwani for his release.
  • Sh10 million: the alternative bond offered by the court.
  • August 14: the date set for pre-trial directions in the case.

Sources:

  • Daily Nation (Kenya). (2023). Business director charged with stealing Sh357m released on bond.
  • Nairobi News (Kenya). (2023). Honey Khatwani granted Sh5 million bond as trial for stealing Sh357m begins.

Note: The sources provided are as exactly mentioned in the original text, and no additional information has been added.