Yagnesh Mohanlal Devani, the former Managing Director of Triton Petroleum Company Limited, has been granted bail of sh.5 million cash after pleading not guilty to 11 counts of fraud.
Alternatively, Devani can provide a sh.20 million bond and a matching surety.
During his court appearance on Monday, Devani’s lawyer, Mwenda Bata, argued that the bail amount was excessive.
The court, however, ruled that Devani would need to demonstrate his inability to pay the cash bail before any adjustments could be made to the terms.
Devani, who is facing allegations related to offences committed between September 5 and December 8, 2008, has been barred from leaving the country or contacting prosecution witnesses while on bail.
The prosecution opposed his release on bond, citing concerns that he might be a flight risk.
They highlighted that Devani had been a fugitive in the United Kingdom since 2009, when an arrest warrant was issued for him.
During that period, Devani contested his extradition from the UK through multiple legal challenges.
He was eventually extradited to Kenya in January this year following successful bilateral cooperation between Kenya and the UK.
The prosecution argued that allowing Devani to post bail could lead to him seeking asylum in a country without a bilateral agreement with Kenya, which would complicate the proceedings.
“It was only through bilateral cooperation between Kenya and the UK that the accused was eventually extradited and charged.
Granting bail could enable the accused to seek asylum in a country lacking such cooperation, potentially obstructing the case,” the Office of the Director of Public Prosecutions (ODPP) stated.
Devani has denied all charges against him and is currently being held at Industrial Area Prison.
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