Three businessmen have been charged with defrauding an investor of Sh129 million in a scrap metal transaction. Ibrahim Ahamed Ibrahim, Abdul Zarak Rehan, and Mohammed Suleiman appeared before Milimani Senior Principal Magistrate Martha Nanzushi and pleaded not guilty to the charges.
The trio is accused of defrauding foreign investor Shahzada Aniq Ayub of Sh129,187,756 between December 4, 2023, and June 6, 2024. Prosecutors allege that they deceived Ayub by claiming they could secure a work permit and trade license from the government for scrap metal dealings. They reportedly failed to fulfill their promises and continued to give Ayub false assurances.
Senior State Prosecutor Herbert Sonye did not oppose the suspects’ bail application but requested that the magistrate consider the significant amount of money involved in the case.
“I have no instructions to oppose the three being admitted to bond. However, I urge this court to take judicial notice of the large sum of money allegedly lost by the complainant, Ayub,” Sonye pleaded.
Fixed abodes
In their rebuttal, the accused urged the court not to be swayed by the figures in the charge sheet, pleading for lenient bond terms.
“Bond should not be punitive but reasonable to enable suspects to meet the terms [and] leave incarceration to defend their innocence from their homes,” the defence submitted.
The magistrate also heard that the accused are Kenyans of fixed abodes known by the police.
“I note that the prosecution is not opposed to releasing the accused on bond,” Nanzushi said.
“Also, no compelling reasons have been advanced to warrant this court to [deny] the accused bail,” Nanzushi observed in her ruling.
The accused were each granted a Sh5 million bond and one surety of the same amount by the court. According to the charge sheet, between December 4, 2023, and January 6, 2024, in Nairobi, Ibrahim, Rehan, and Suleiman, along with others not currently before the court, allegedly conspired to commit a felony.
They are accused of stealing $881,009 (approximately Sh113,650,254) and Sh15,537,500 from Ayub by pretending they could assist him in obtaining a work permit and a scrap metal dealer’s license.
Additionally, they allegedly promised to supply Ayub with 1,100 tonnes of scrap metal and used batteries. Rehan faces separate charges for allegedly forging a scrap metal certificate and presenting it as genuine. The case is scheduled for a mention on September 10 for pre-trial directions.
