Connect with us

Hi, what are you looking for?

Cyprian Is Nyakundi

Fraud

Scandalous: EPZ firm boss charged in share transfer fraud

Shahdadpuri Ghanshyam Choithram

Shahdadpuri Ghanshyam Choithram, a director of Global Apparels Kenya (EPZ) limited has been charged with conspiracy to steal shares valued at Sh75 million.

Ghanshyam appeared before Milimani Senior Principal Magistrate Bernard Ochoi and denied several charges and was remanded in police custody pending ruling tomorrow on his bail application.

The director is charged alongside the company’s external advocate Philemon Morara Apiemi, who denied the charges when he appeared in court on April 29. They are accused of conspiracy to defraud heirs of a shareholder of 250,000 shares valued at Sh100 million by forging and uttering share transfer documents to his Choithram’s benefit.

According to the charge sheet, the duo jointly conspired to defraud heirs of Suresh Lakhian and Narain Choithram (both deceased).

The charges against them stated that they committed the offence on the diverse dates from October 16, 2016 and June 13, 2018 while purporting to be director and external lawyer for Global Apparel Kenya (EPZ) limited.

It is alleged that they committed the offence with others not before court in an unknown place by falsifying Global Apparel Kenya limited resolution transfer deeds and statutory declarations to the benefit of Choithram, a fact they knew was false.

Choithram is also charged with stealing 125,000 ordinary shares valued Sh12.5 million and also stealing 750,000 preferential shares valued Sh75, 00.000 the property of the Lakhian (deceased).

The prosecution told the court that Choithram is facing several charges of stealing shares belonging to the deceased family.

Further, it is alleged that on July 12, 2018 both Choithram and Morara knowingly and fraudulently uttered a forged Global Apparel Kenya (EPZ) limited written resolution, statutory declaration all dated October 24, 2017 and transfer deed dated December 5, 2016 at registrar of companies within Nairobi purporting it to be genuine document.

The two are further accused that with intent to defraud and without lawful authority jointly made a statutory declaration dated October 14, 2016 purporting it to be statutory declaration sworn by Suresh Lakhian


Would you like to get published on this Popular Blog? You can now email Cyprian Nyakundi any breaking news, Exposes, story ideas, human interest articles or interesting videos on: [email protected] Videos and pictures can be sent to +254 710 280 973 on WhatsApp, Signal and Telegram.


Comments

comments

 
Click to comment

Facebook

You May Also Like

News

A month after he was re-elected for an unopposed 5th term and a street named after him, Central Organisation of Trade Unions (Cotu) Secretary-General...

News

The apple doesn’t fall far from the tree. Just months after a video of a visibly drunk Supreme Court judge Smokin Wanjala bragging about...

News

A distasteful tweet by Makueni Senator led him into unfamiliar territories after he was attacked by a Kenyan who seemed to strongly disagree with...

News

Caroline Mutoko seems to have lost her Facebook page to Asian hackers. Kenyan Blog Viral Tea reports that Kenyans online were quick to notice...

Copyright © 2021 Cyprian Is Nyakundi.

%d bloggers like this: