A senior trustee of a city building valued at Sh 230 million was on Thursday charged before a Milimani law court with fraudulently conspiring to sell the five-storey building that belonged to the trust.
It is alleged that Nilesh Laiji Kotedia on diverse dates jointly with others not before court, being a trustee of Lalji Mulji Jetha Trust Deed including and not limited to a five-storey building situated along Latema road valued at Sh 230 M, with intent to defraud the beneficiaries, conspired to fraudulently transfer, sell and convert the property to use not authorized by the trust deed.
He is also charged with a second count of fraudulent disposal of trust and it’s alleged that on March 15 2019 at Catherine Ngunjiri advocates offices within Nairobi County being a Trustee of the building he sold and transferred it against the wishes of the trust.
He denied the charge before Chief Magistrate Susan Shitubi and pleaded with the court to release him on reasonable bond terms.
He was released on a Sh 2 million bond or an alternative cash bail of Sh 1 million.
