Billionaire Humphrey Kariuki released on Sh11 million cash bail

Businessman Humphrey Kariuki was on Monday released on a cash bail of Sh11 million with an alternative bond of sh22 million.

Presiding magistrate Magistrate Francis Andayi in his ruling said that it will be discriminatory to detain Kariuki.

He, however, directed that the businessman appears before the DCI within six hours after he meets the bail and bond terms.

The tycoon is facing several counts including forgery, money laundering, tax evasion among others.

Kariuki denied all the charges from three files

His case will be mentioned on September  5th.

The businessman on Monday presented himself at a Milimani Court to take plea on the Sh41bn tax evasion case he is facing.

The defense claimed that the businessman had learned from print and electronic media that summons had been sought by the prosecution.

They also claim that there was no warrant of arrest issued and that Humphrey Kariuki voluntarily appeared in court to take the plea.

The defense said that he flew in last evening so that he could appear in court and take plea today.

They asked he be granted similar bail and bond terms as he faces similar charges with the other three, employees of African Spirits Company that took plea last week.

The three who took plea last week are Peter Njenga, Robert Mureithi and Kepha Githu.

The three employees of African Spirits Company that took plea last week were granted Sh 10million cash bail each for file one Sh 500,000 each for file twoSh 500,000 each for file three

After denying charges from three files, they were released on Sh20 million bond with a surety of a similar amount and alternative cash bail of Sh 11 million each.

The prosecution has asked for time until 9 am on Tuesday to decide whether they will allow Kariuki to be released on bond with an alternative of cash bail or not

The prosecution further asked that the businessman provides a copy of his passports so that they can verify any entry of exit and entrance stamps.

The prosecution also wants to involve Interpol to make the decision of whether they oppose bail or not.

The defense, however, has told the court that Kariuki is not a direct investor of Africa Spirits limited but an investor through a cooperate body.

In the second file, the accused are charged with being in possession of uncustomised goods.

The goods are 80 drums of ethanol each 250In the third file, the accused persons are charged with being in possession of counterfeit excise duty stamps.

Several other counts have the charge of being in possession of excisable goods affixed with counterfeit excise stamps.

Kariuki was granted Sh1 million bond, cash bail sh500,000 for the charges in file two.

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