By Antynet Ford
Savannah Clinker Chairman Benson Ndeta has been unconditionally released after a court order was issued stopping the prosecution and detention of the businessman.
This comes after Ndeta spent the weekend in custody despite the High Court order issued last Friday.
Magistrate Gilbert Shikwe deferred the bail ruling and ordered the matter to be mentioned on January 30, 2025.
The chairman was on Friday charged with defrauding ABSA bank of USD35 million (Ksh.4.5 billion), purporting to act on behalf of Savannah Cement Limited.
He was charged with eight counts among them conspiracy to commit a felony, obtaining execution of a security by pretenses, and uttering false documents.
Ndeta pleaded not guilty to all the eight counts.
The businessman who was arrested on Friday in Nairobi has also denied charges of obtaining credit by false pretenses, making a document without authority, and uttering false documents.
Through his lawyer Cecil Miller, the businessman who has also expressed interest in acquiring Bamburi Cement has filed an application to be released on cash bail pending a hearing and determination of the case.
The case will be mentioned next year on January 21.