Written by Were Kelly
A Nairobi court was presented with a stark picture of alleged corporate fraud as two key witnesses gave detailed testimony against Honey Khatwani, the former Managing Director of Oki Trading Company Limited (OTCL), who stands accused of stealing Ksh 356 million.
The hearing before Senior Principal Magistrate Dolphina Alego at the Milimani Law Courts centered almost entirely on the compelling and detailed accounts of an employee and a relative of the accused, who described a systematic scheme to divert company funds.
The first witness, Jatin Aswani, took the stand to describe an environment of deliberate informality and control under Khatwani’s leadership. Aswani, who worked for OTCL from July 2023, testified that his employment was characterized by a lack of basic formalities. He stated that despite his repeated requests, Khatwani consistently failed to facilitate his work permit application, leaving him in a vulnerable position.
When asked for evidence of these requests, Aswani explained that “not everything is done through emails, some things are done through calls,” pointing to the informal communication methods insisted upon by the former MD.
Crucially, Aswani confirmed that after signing an employment contract, he was never given a copy, noting that “employment contracts are always with the director, not the employees.” His testimony further revealed that staff were paid in cash instead of through bank accounts, and he alleged being coerced to work through verbal threats, though he conceded he had no physical proof of the intimidation.
The most damning testimony, however, came from the second witness, Sameer Kewal Ramani, who identified himself as Khatwani’s relative. Ramani provided the court with a meticulous account of the financial mechanics behind the alleged theft.
He testified that he personally acted on specific instructions from Khatwani to regularly deposit company funds directly into the MD’s personal Ecobank account, in both Kenyan shillings and US dollars, as well as into the M-Pesa account of Khatwani’s wife.
Ramani described a routine where he would send images of bank deposit receipts to Khatwani via WhatsApp, after which, he alleged, Khatwani would alter the company’s daily sales reports shared on the same platform to hide the growing financial discrepancies.
Ramani’s testimony went further, alleging that Khatwani was actively working against OTCL’s interests while still serving as its head. He revealed that Khatwani had established a competing entity, Galaxy Middle East Africa Limited, and would personally contact OTCL’s clients to redirect their business and payments to his new venture.
This testimony directly addressed the motive and method behind the alleged theft, suggesting that client cheques intended for OTCL were instead funnelled into Khatwani’s personal accounts.
