A businessman has been charged with falsely obtaining credit worth Sh135 million from two banks.
Patel Ravji Lalji appeared before Milimani Chief Magistrate Martha Mutuku and denied two counts charges brought against him.
The court heard that Lalji obtained Sh60 million from Prime Bank on or about November 17, 2011 and charged a title deed in the name of Cadilla ltd, yet he knew that he had sold the property to Sadat Macharia Muhindi.
He and the company are also accused that on or about August 22, 2019 at ASL Credit Limited in Westlands, Nairobi, jointly with others not before court, he incurred a debt or liability to ASL by obtaining credit worth Sh75 million.
The court heard that he pretended that the said title deed was legitimate, a fact he knew to be false, having sold the said land.
The court ordered the businessman and his company to deposit cash bail of Sh3 million each to secure their release.
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