After evading authorities for 16 years, fugitive business tycoon Yagnesh Mohanlal Devani is now in the legal spotlight. Accused in the Triton fuel theft scandal and listed among Interpol’s most-wanted Kenyan suspects in 2013, Devani has been extradited from Britain to face charges in Nairobi. He was quietly released on bond after denying four counts of theft and fraudulent disposal of products in a court appearance.
Devani, once described as a shrewd businessman with political connections, is implicated in a 2008 scam involving Triton Petroleum Company Limited, his company. Reports suggest that the Kenyan taxpayer faced a potential loss of over Ksh7.6 billion ($47,352) due to breached agreements with financiers.
Charges against Devani include the irregular disposal of gas oil, jet fuel, and motor spirit premium, mortgaged by Kenya Commercial Bank Limited (KCB). Allegedly, he stole significant quantities of these petroleum products worth millions, leading to charges of theft and fraudulent disposal.
The trial court accuses Devani of stealing jet fuel, automotive gas oil, and motor spirit premium at various times in 2008 from the Kipevu Oil Storage facility in Mombasa County. The stolen products were valued at millions of dollars, constituting a significant financial crime.
Devani, who had fled to the United Kingdom when his co-accused faced charges, had a warrant issued for his arrest. He faced extradition requests from Kenya, challenging them through the UK courts. In May 2020, the UK Court of Appeal dismissed his asylum application, clearing the way for his extradition.
The case, involving Devani and his alleged accomplices, is set to proceed in his presence after years of legal battles. The court scheduled the next mention for February 12, 2024, for pre-trial directions. The accused faces charges of theft and fraudulent disposal of highly inflammable petroleum products, and the trial is expected to provide long-awaited answers in this complex financial crime.
