Bail Ruling For Jared Otieno Over Fake Gold Scam Due Monday

The bail ruling for businessman Jared Otieno and 15 other people charged in the Sh300 million fake gold scandal is due Monday afternoon.

They denied the charges against them and court ordered them remanded in custody until today when it will deliver a ruling on their bail terms.

According to the prosecution, the accused who have been in police custody for a period of seven days, jointly conspired to defraud Southorn Chanthavong a director of Simuong Group from Lao by fraudulently displaying heavy metal boxes allegedly marked as genuine gold between 8 and 25 February this year.

The said transaction took place at an office trading in the name of Nirone Keeping Limited pretending that they were carrying out genuine gold business.

In the second count the accused were indicted with obtaining money by false pretences.

The prosecution further told the court that during the same period the accused at Kaputei Gardens located in Kileleshwa area within Nairobi County made trademarks to be genuine stickers authorized by Ghana customs authority.

The trial magistrate had been told that the accused were found with fake gold contrary to the law. The accused include two students, a watchman, gardener and three foreigners – one from Chad and two DRC Congo nationals.

Deputy President William Ruto highlighted the negative impact the fake gold scandal would have on the relationship of Kenya and other countries, especially the United Arab Emirates.