Businesswoman Mary Wambui yesterday told the court to return Sh50 million she deposited as bail because she is in dire need.
The court accepted her plea and allowed her to substitute her cash bail with a land title to secure her release in Sh2.3 billion tax evasion case.
In her plea, the businesswoman said the Sh50 million is money she had allocated for construction of Glee hotel and if it's not given back the construction will stall.
"Unless the application is heard and determined, there is real danger that the construction of Glee which was being undertaken with funds in the hotel loan account, may stall leading to grave financial implications to the company, "she said.
In January, Wambui had been allowed to travel to Instanbul, Turkey to purchase furniture for the said hotel.
A company identified as Sagist Group had invited her for an inspection of the furniture.
Anti-corruption court magistrate Felix Kombo allowed her plea and let the businesswoman use the land that was once owned by former Vice President Joseph Murumbi to secure her freedom.
Kombo directed that the documents should be rendered to court on March 16, for approval.
The land is LR No Transmara/Intona/34, it belonged to Murumbi but was later bought by the Agricultural Finance Corporation at an auction after he failed to pay a loan advanced to him.
The land is now registered under North Mogor Holdings Limited.
AFC sold the land to them.
Wambui wants the title to take the place of the cash bail she had deposited in court when she and her daughter Purity Mungai were charged with tax evasion.
(Edited by Tabnacha O)
