Clerk sues three banks, Punjani in Sh4 billion forgery allegations

A clerk has sued three banks claiming that a firm linked to Mombasa businessman Ali Punjani illegally used his credentials to transact billions.

Imran Husseinali in his case filed before the Commercial Court in Nairobi sued Diamond Trust Bank (DTB), National Bank of Kenya, and Habib Bank claiming that more than Sh4 billion was wired into accounts that bore his name.

He also sued Punjani, Rising Star Commodities Ltd, a firm allegedly owned by Punjani, Abdi Ali, Duncan Mukanda, Equitorial Secretaries and Registrars and Simon Kimeu.

Husseinali’s lawyer Hans Oichoe told Justice Peter Mulwa that his signature was forged to afix him as Rising Star’s director and shareholder.

Oichoe said that his client was initially working as a procurement clerk with Rising Star but left in 2022.

According to the lawyer, Rising Star had allegedly transacted at least Sh4 billion in DTB while in Habib Bank, it allegedly had more than Sh400 million and a further $3.5 million.

In National Bank, he argued, the firm had allegedly transacted some Sh 149,000. He urged the court to compel the three lenders to furnish information on the accounts.

Oichoe said that Husseinali had recently learned that he had been listed in the Rising Star’s website as its financial controller.

Huge amounts

The lawyer further stated that information obtained from the Business Registration Services indicated that Fatmabai Sherali was a director and a shareholder of the company.

He argued that his client could not handle such huge amounts of money.

The court heard that Husseinali was also unaware of loans taken by Rising Star and him being among those who were listed to be held liable in case of a default.

“In further denial, the plaintiff states that he has no education, training, the know-how of any form of experience to control the huge finances of the third defendant. Plaintiff avers that the seventh defendant (Equitorial Secretaries and Registrars) knowingly, willingly and deliberately issued a fraudulent notice to Business Registration Services and ought to have known of the falsity and fraud since the plaintiff did not appear before any officer of the seventh to execute any document concerning his impugned appointment as a director of the third defendant,” argued Oichoe.

 In his supporting affidavit, Husseinali claimed that some of the guarantees to the banks were done by Punjani’a mother  Badrudin Punjani Gulbanu despite her being dead.

He said that he feared being flagged out by security agencies owing to the association with Punjani or his company.

“The first, second and ninth defendant fraudulently advanced and granted credit facilities on the basis of deeds/instruments of guarantee allegedly sworn by Badrudin Punjani Gulbanu who died July 2, 2015. The said Badrudin Punjani Gulbanu is well known to the plaintiff. She is the fourth deceased mother who died on  July 2,  2015 at Nyali aged 66 years,” claimed Husseinali..

He added that he had observed that she had even executed cheques after his death.

Husseinali’s case is an escalation of battles revolving around banks, Punjani, his associates and relatives over alleged fraud and billions of money in bank accounts.

There are two separate cases, involving business woman Fatmabai Sherali who sued Punjani, African Banking Corporation (ABC), DTB, company directors, and the National Lands Commission (NLC) over allegations of fraud.

However, all the accused parties deny the allegations and seek to have the cases dismissed. The cases involve Punjani, Parviz Haiderli, Zuher Ladak, her nephew Ali Badrudin, and niece Nazlin Aminmohamed.

Also cited are the law firm Anjarwalla and Khanna (ALN Kenya), along with the Director General of Business Registration Service.

Her relatives

Other parties named in the case, include ABC, DTB, NLC, and Equitorial Secretaries and Registrars.

In the cases before Justice  Mulwa, Sherali accuses Haiderli and Nazlin of using Abdeel Enterprises Ltd and Abdeel Investments Ltd, claiming the businessman and her relatives illegally used her credentials to conduct fraudulent transactions.

On the other hand, Abdeel, Badrudin, Nazlin, Amynaz, Ladak, and Punjani want the cases struck out.

They argue that Sherali is mentally disturbed, with a medical report supporting their claim.

They also contend that she lacks the capacity to file these cases and should be forced to deposit security to protect them should they prevail.

Regarding ABC, Sherali alleges that Abdeel took a Sh300 million loan without her consent or approval.

She claims she was first removed as a director of the firm before the accounts at the heart of the case were opened.

In the DTB case, she alleges that from bank statements issued by the bank,  Abdeel had been credited with more than Sh1.2 billion while in a separate dollar account, the company had allegedly advanced at least $1 million, which remained unpaid to-date.

She also claimed that she was added as a director and her credentials were used to create the bank accounts without her consent.

She stated that both ABC and DTB had violated Central Bank of Kenya regulations.

“There is great risk and danger posed against the plaintiff by the actions of the defendants to the extent that the defendants have put the plaintiff at the risk of recovery of the owing debt in the event of default by the defendant in her impugned capacity as a director and shareholder. The aged and elderly Plaintiff would not be able to repay the colossal unlawful facilities in this life or the next,” says Sherali.

Both banks deny the claims.

DTB raises doubts about her mental state and asserts that she is not a client. At the same time,it denies issuing her with the bank records.

Sherali further states that the ABC accounts had transactions worth Sh2.1 billion and Sh3.6 billion, calling these transactions suspicious.

She accused ABC of concealing information that Abdeel had an account and had allegedly taken substantial loans.

The case continues on February 11.