A Nairobi businessman who allegedly conspired to defraud a bank of Sh152 million has been charged before court.
Erick Mwangi was charged alongside his accomplices Huth Peter Henry and John Wanjiru and was accused of jointly conspiring to affect the market price of land parcel number Kajiado/Loodariak/4453 by way of the fraudulent valuation report.
They allegedly committed the offence on dates between November 20, 2015 and January 14, 2016, at Nairobi within Nairobi County.
The three were charged with another account alongside Grace Wairimu Mumo of jointly with intent to defraud and without lawful excuse made a title deed purporting it to be genuine and issued by the Ministry of Lands.
Mwangi was charged separately with obtaining credit by false pretences.
The prosecution said that he incurred a debt to NIC bank by obtaining credit of Sh152,000 from the bank by falsely pretending that a collateral of a land parcel had a value equivalent to the credit advanced by NiC bank a fact he knew to be false.
The court heard he committed the offence on January 14, 2016 at Ralph Bunche Road in Nairobi County.
They appeared before trial magistrate A.K Makau and denied the charges. They pleaded for lenient bond terms.
The magistrate released Mwangi on a cash bail of Sh3million or a bond of Sh5million.
The rest were released on a cash bail of Sh 100,000 or a bond of Sh200,000 each.
The case will be mentioned on May 21 for pretrial directions.
