Tycoon Devani detained at Industrial Area Prison in Ksh.7.6B Triton oil scam

Former Managing Director of Triton Petroleum Company Limited Yagnesh Mohanlal Devani has been detained over the Ksh.7.6 billion oil scandal.

The embattled businessman, who pleaded not guilty to 11 counts of fraud, was on Wednesday arraigned before Anti-Corruption Magistrate Thomas Nzyoki in Milimani following his arrest on Tuesday. 

According to the Office of the Director of Public Prosecutions (ODPP), Devani was accused alongside others before the court of selling diesel valued at Ksh.32 million to Total Kenya Limited without the consent of Emirates National Oil Company Limited.

"In addition to the fraud charge, Devani faces other charges, including fraudulent disposition of mortgaged goods, eight counts of conspiracy to defraud, and one count of obtaining by false pretence," the ODPP stated.

The court heard that Devani committed the offences between September 5 and December 8, 2008.

The prosecution opposed Devani’s release on bond arguing that he is a flight risk as he has been a fugitive in the United Kingdom since 2009 when an arrest warrant was issued against him.

At the time, the suspect challenged his extradition from the UK by instituting multiple judicial proceedings. He was eventually only extradited in January this year following bilateral cooperation between Kenya and the UK.

The prosecution hence told the court that granting the accused bond could lead to him seeking asylum in another country without bilateral ties with Kenya.

"It was only through bilateral cooperation between Kenya and the UK that the accused was eventually extradited and charged. The prosecution further pointed out that granting bond could lead to the accused seeking asylum in a country without bilateral cooperation with Kenya, making it difficult to proceed with the case," the ODPP noted.

The accused person however denied all the charges levelled against him and was detained at the Industrial Area Prison.

Devani will remain in custody awaiting the court ruling on bond terms to be delivered on August 19, 2024.