Yagnesh Mohanlal Devani, the former Managing Director of Triton Petroleum Company Limited, has been released on a KES 5 million cash bail after pleading not guilty to 11 counts of fraud. Devani, who has been on the run for over a decade, is facing charges related to the KES 7.6 billion jet fuel scandal that rocked Kenya’s oil industry in 2008.
The court, presided over by Chief Magistrate Thomas Nzioki at the Milimani Anti-Corruption Court, also provided an alternative option for Devani to post a KES 20 million bond along with a similar surety.
Devani’s legal team, led by Mwenda Bata, argued that the bail amount was excessively high, but the court maintained its position, stating that Devani would need to prove his inability to meet the bail conditions before any revisions could be considered.
The businessman, who was extradited from the United Kingdom earlier this year after evading capture for over a decade, is accused of committing the offenses between September 5 and December 8, 2008.
As part of the bail conditions, Devani has been ordered to surrender his passport and is barred from leaving the country or contacting any prosecution witnesses.
The prosecution strongly opposed Devani’s release on bond, arguing that he poses a significant flight risk due to his previous fugitive status.
“It was only through bilateral cooperation between Kenya and the UK that the accused was eventually extradited and charged,” noted the Office of the Director of Public Prosecutions (ODPP). They further warned that granting bond could result in Devani seeking asylum in a country that lacks bilateral ties with Kenya, thereby complicating the ongoing legal proceedings.
Despite these concerns, Magistrate Nzioki granted the bail but issued a stern warning to Devani against interfering with witnesses. The next mention of the case is scheduled for August 29, when pre-trial directions will be provided.
