Businessman Jared Otieno has been released on a cash bail of Ksh.1.5 million or Ksh.2 million bond in a case where he is charged over a Ksh.300 million gold scam.
Otieno and 15 others were Tuesday last week charged with conspiracy to defraud, obtaining money by false pretences and preparing to commit a felony. They denied the charges before Magistrate Francis Andayi.
Four of Jared Otieno’s co-accused were also released on a cash bail of Ksh.1.5 million while the rest were granted a Ksh.500,000 cash bail.
The case will be mentioned on June 10 while the hearing was set for July 2.
Otieno is accused of obtaining Ksh.300 million from Mr. Southorn Chanthavong, a director of Simuong Group Company, by pretending that he would sell him genuine gold.
The alleged offence occurred on diverse dates between February 8, 2019 and February 25, 2019 at a house in Kaputei Gardens, Kileleshwa, Nairobi.
According to the charge sheet, Otieno and his co-accused used fraudulent tricks including displaying heavy metal boxes allegedly parked with fake gold bars to defraud their victim.