Three senior directors of troubled Dubai Bank have spent two nights in custody after they all failed to secure a Sh50 million bond as well as raise a cash bail of Sh10 million each.They were accussed of engaging in money laundering activities.
The Chief magistrate Daniel Ogembo allowed the directors Abdul Zubeidi,Wilson Nandwa and Ali Sheikh a bond of Ksh 50 million with a similar surety each or an alternative cash bail of Sh10 million each until January 11 when the prosecution will respond to their objection of plea taking.
The magistrate also issued warrant of arrest against the bank’s chief executive officer Binay Dutta and operations manager Deeraj Kumar Baghel following an application by senior state counsel Duncan Ondimu that the two be arrested for failing to comply with the previous orders requiring them to be present in court for plea taking.
