EPZ Director And City Lawyer Charged With Sh100 Million Fraud

A director of Global Apparels Kenya (EPZ) limited Shahdadpuri Ghanshyam Choithram has been charged with conspiracy to steal shares valued Sh.75 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 Sh.100 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 Sh. 75, 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.