Following accusations that he had stolen petroleum worth Sh1.5 trillion from the Kipevu Terminal in 2008, Devani was sent free on a Sh1 million bail.
After a while, businessman Yagnesh Devani was charged with stealing 318.656 metric tonnes of jet fuel, which was worth USD 365,974.05. Following a long legal battle, charges were brought.
Devani has reportedly not been arrested since the year the incident was allegedly committed.
He made a deal with high-ranking government officials in 2023 to go from London to Nairobi to hear the case.
His arrest was sought by the authorities.
In accordance with the deal, Devani was allowed to go to Kenya despite the active warrant and enter a plea before to the prosecution’s planned trial, which would have brought the case to an end.
He left for the United Kingdom after his co-accused was charged and a court-issued arrest order was issued.
Delivered unexpectedly on Thursday before Senior Principal Magistrate Robinson Ondieki, he denied four charges of pilfering.
The prosecution said the court that he and the other individuals in attendance took 2,000 metric tonnes of automotive petrol oil, worth at USD 215,934, from Kenya Commercial Bank property between April 23 and December 4, 2008, at the Kipevu oil storage site in Mombasa County.
The court was informed that between May 15, 2008, and December 4, 2008, at the Kipevu oil storage facility in Mombasa County, the defendants, together with others present, stole 418.134 metric tonnes of Motor Spirit Premium, worth at USD 438,031.10, which belonged to Kenya Commercial Bank.
Trial Magistrate was further informed that on November 2, 2008, and December 4, 2008, in the Kipevu oil storage facility in Mombasa County, she and other individuals appeared in court and stole 12,782 metric tonnes of automotive petrol oil worth at USD 7,999,691.39 that belonged to Kenya Commercial Bank.
On a monetary bond of Sh1 million plus one contact person, the accused was freed.On February 12, 2024, the criminal matter is scheduled to be discussed during the Pretrial.
The case continued while Devani was missing since he was on the run.
Although extradition procedures had been started against him, they had not yet concluded when the state was wrapping up its case.
There has been no progress in getting him extradited.
To have Devani sent to Kenya to face allegations of defrauding the Kenya Commercial Bank and the Emirates National Oil Corporation of Singapore, Kenya filed an extradition request in 2011.
In 2013, Kenya made a second extradition request, alleging that Devani had defrauded the global financial firm Fortis.
He faces a total of 19 separate financial offence charges.
Devani contested both demands, causing the case to be heard in UK courts.
The Court of Appeal in the United Kingdom denied his request for asylum in May 2020, so permitting his extradition to Kenya to face many fraud-related accusations.
Triton Petroleum Ltd., a business owned by Devani, is purportedly responsible for the oil swindle, sometimes referred to as the Triton Scandal.
Under a mechanism designed to support regional oil companies, the company, of which Devani was executive chairman, won a lucrative deal to deliver oil.
A former Kenya Pipeline Company worker will have to defend himself against claims that he stole oil valued at Sh2.1 billion.
Fourteen years ago, Benedict Mutua Mbuvi, Devani, and Triton Energy Limited were accused of stealing 12,623,239 metric tonnes of oil worth USD 17 million that belonged to Fortis Bank.
At the Kipevu Oil Storage Facility in the Mombasa District, the crime was perpetrated in August 2007.
In the case last year, a court found that Mbuvi, a former technician at the state enterprise, had a case to answer after the prosecution called 17 witnesses.