Two Lubrinex Oils Directors Charged With Stealing Sh67 Million in Petroleum Supply Deal
Two directors of an oil trading firm have been charged before a Nairobi court over the alleged theft of Sh67 million from a petroleum trader in a failed fuel supply deal.
Moses Macharia Mathenyu and Peris Wangari Kamau, directors of Lubrinex Oils Limited, appeared before Milimani Chief Magistrate Lucas Onyina, where they pleaded not guilty to the charges.
Alleged Fraudulent Fuel Supply Deal
According to the charge sheet, the two are accused of defrauding Trinity Energy Limited by falsely representing that they were in a position to supply petroleum products, a claim prosecutors say they knew to be false.
The court heard that Lubrinex Oils Limited had agreed to supply diesel (AGO 50ppm) and premium motor spirit (PMS 93) but allegedly failed to deliver the products as agreed.
As a result, Trinity Energy Limited is said to have suffered a financial loss of USD 520,000, equivalent to approximately Sh67 million.
Period of the Alleged Offence
Prosecutors allege that the offence was committed between November 23, 2023, and December 3, 2024, at an unknown location within the country.
Bail Terms
Chief Magistrate Onyina ordered the two accused persons to be released on a cash bail of Sh200,000 each, pending hearing and determination of the case.
The matter will be mentioned for further directions.