After evading authorities for a staggering 16 years, the elusive business magnate Yagnesh Mohanlal Devani has finally been apprehended.
Once named among the most-wanted Kenyan suspects by Interpol in 2013, Devani was sought for his alleged involvement in the Triton fuel theft scandal.
Two weeks ago, he was quietly extradited from Britain, subsequently facing charges in a Nairobi court.
Surprisingly, Devani was released on a Sh1 million bond after applying for freedom, a move not contested by the prosecution.
The charges against Devani stem from a 2008 petroleum importation scam that implicated his company, Triton Petroleum Company Limited.
Kenyan taxpayers lost over Sh7.6 billion due to breaches in an agreement with financiers related to a lucrative contract awarded to Triton for the supply of oil.
This contract was part of a system introduced to support local oil firms.
During the court proceedings on January 23, 2024, before Milimani senior principal magistrate Robinson Ondieki, Devani faced indictment over the irregular disposal of substantial quantities of gas oil, jet fuel, and motor spirit premium.
These products, valued at $9,019,630 (Sh1,470,199,690), had been mortgaged by Kenya Commercial Bank Limited (KCB).
Devani, who had fled to the United Kingdom when his co-accused were charged, had a warrant of arrest issued against him to answer to multiple charges.
Among the charges brought against Devani and Triton, one alleges that between April 23 and December 4, 2008, at the Kipevu Oil Storage facility in Mombasa County, they stole 318,656 metric tonnes of jet fuel valued at $365,974 (Sh58.8 million).
This fuel was the property of KCB. Another charge asserts that on various dates within the same period, they stole 2,000 metric tonnes of automotive gas oil valued at $215,934 (Sh34.6 million), also belonging to KCB.
The court was informed that between May 15, 2008, and December 4, 2008, at Kipevu Oil Storage, they stole 418.134 metric tonnes of motor spirit premium valued at $438,031.10 (Sh70.3 million), property of the bank.
Additionally, between November 2, 2008, and December 4, 2008, at the same facility, they allegedly stole 12,782 metric tonnes of automotive gas oil valued at $7,999,691.39 (Sh1.28 billion), again the property of KCB.
Devani faces alternative counts of fraudulent disposal of the highly inflammable petroleum products in question.
The trial is set to proceed, with the case scheduled for mention on February 12, 2024, for pre-trial directions.
