A Nairobi businessman has been charged at Miliamni Law court with conspiracy to defraud beneficiaries of property worth Ksh.230 million.
Nilesh Jayantilal Lalji Kotedia was charged that on diverse dates and at an unknown place within the republic with others not before the court, being a trustee of Lalji Mulji Ketha Trust Deed conspired to defraud including and not limited to five storey building situated at Latema Road valued at Ksh.230 million.
With intent to defraud the beneficiaries, the court heard that Nilesh conspired to fraudulently transfer, sell and convert the said property to use not authorised by the Trust Deed.
He faces a second count of selling the property against the wishes of the Trust.
Nilesh pleaded not guilty before Nairobi magistrate Susan Shitubi and was released on a cash bail of Ksh.2 million.
The matter will be mentioned for pre-trail after two weeks.
