Former Cabinet Minister Simeon Nyachae’s son, Michael Moragia Nyachae, has been charged with allegedly stealing more than Sh1.2 million belonging to Sansora Group Limited.
Nyachae, who is also the Chairman of the Board of the Development Bank of Kenya, is accused of stealing Sh1,226,036 on diverse dates between March 28, 2019 and September 28, 2021, in Kisii County. According to the charge sheet, Nyachae allegedly committed the offence of stealing contrary to Section 268(1), as read with Section 275 of the Penal Code.
The prosecution alleges that the Sh1,226,036 belonged to Sansora Group Limited. Nyachae appeared before Magistrate Caroline Nyaguthie and pleaded not guilty to the charge.
Through his lawyers, Nyachae asked the court to release him on reasonable bail terms. In urging the court to exercise its discretion in his favour, the defence told the magistrate that Nyachae comes from a distinguished family and argued that there was no risk of him absconding.
The lawyers further described the criminal case as “smoke without fire” and told the court that Sansora Group Limited, the company named as the complainant in the charge sheet, is a family company. The court released Nyachae on a bond of Sh200,000 or an alternative cash bail of Sh50,000.
The matter will be mentioned on September 29 for pre-trial directions.
