The director of Kipsigis Store Limited, has been charged in a Nairobi court with defrauding Diamond Trust Bank Limited of Sh30.8 million through fraudulent loans.
Samuel Mutai, the accused director is alleged to have defrauded Diamond Trust Bank Ksh 30,888,000 by means of obtaining loans against several collaterals.
He was also accused of disposing a Mortgaged two Ashok Avia Trucks, and two Isuzu FVR Trucks the property of Diamond Trust Bank without the consent of the said bank.
Appearing before Milimani Chief Magistrate Lucas Onyina, the director denied the charges and was released on a bond of Ksh 1 million.
Consequently, the court the court issued a warrant of arrest against Kipsigis Stores Limited workerss, Alfred Kipkorir Mutai and John Fernandes Muiga, the other accused persons in the case who failed to appear in Court for plea taking.
