Yagnesh Mohanlal Devani, the former Managing Director of Triton Petroleum Company Limited, has been detained in connection with a Ksh.7.6 billion oil scandal.
Devani, who faces 11 counts of fraud, was arraigned before Anti-Corruption Magistrate Thomas Nzyoki in Milimani on Wednesday following his arrest on Tuesday. The Office of the Director of Public Prosecutions (ODPP) revealed that Devani, along with others, is accused of selling diesel worth Ksh.32 million to Total Kenya Limited without the consent of Emirates National Oil Company Limited.
“Besides the fraud charges, Devani is also facing additional allegations, including the fraudulent disposition of mortgaged goods, eight counts of conspiracy to defraud, and one count of obtaining by false pretense,” the ODPP reported.
The court was informed that these offenses were committed between September 5 and December 8, 2008.
The prosecution opposed Devani’s release on bond, arguing that he poses a flight risk, having been a fugitive in the United Kingdom since 2009 when an arrest warrant was first issued against him. Devani had previously challenged his extradition from the UK through multiple judicial proceedings, but was only extradited in January of this year due to bilateral cooperation between Kenya and the UK.
The prosecution further argued that granting Devani bond could result in him seeking asylum in a country that lacks bilateral ties with Kenya, which could complicate the legal proceedings.
“It was only through bilateral cooperation between Kenya and the UK that the accused was eventually extradited and charged. The prosecution is concerned that granting bond could lead to the accused seeking asylum in a country without such cooperation, potentially hindering the progress of the case,” the ODPP stated.
Devani denied all charges against him and has been detained at the Industrial Area Prison. He will remain in custody until the court delivers its ruling on his bond terms on August 19, 2024.
