Court grants Yagnesh Devani bail in Sh7.6 billion Triton scandal

Businessman Yagnesh Devani at Milimani law courts before Anti-Corruption chief magistrate Thomas Nzioki on Wednesday, August 7, 2024 where he was charged with 11 counts of fraudulent disposition of mortgaged goods, for clearance of petroleum products valued at 10.4 million U.S dollars without the consent of the mortgagee. [Collins Kweyu,Standard]

Billionaire businessman Yagnesh Devani, who has been embroiled in the infamous 2008 Triton oil scandal, was released on a Sh5 million cash bail after spending over 15 days in custody.

Milimani Anti-Corruption chief magistrate Thomas Nzyoki, in his ruling, ordered Devani's release on the condition that he either deposits the Sh5 million cash bail with two personal sureties or provides a bond of Sh30 million with one surety of a similar amount.