EX- CEO HONEY KHATWANI AT THE CENTRE OF SH200M FRAUD SCANDAL AT OKI GENERAL TRADING LIMITED

-
The former Oki General Trading Limited Chief Executive Officer, Honey Khatwani is facing serious fraud allegations after a forensic audit exposed the staggering SH 200 million loss within just one year. The damning report, currently under review by the director of criminal investigations (DCI), outlines a complex web of financial manipulation, ghost transactions and suspicious foreign currency dealings allegedly orchestrated by Khatwani. 
Image; Ex- Oki General Trading Limited CEO Honey Khatwani.

The Oki General Trading  Kenya limited forensic audit report (2021-2024) uncovered widespread financial misappropriation. Investigators flagged 200,870, 680 worth of sales transactions recorded between, May 5/20/23 and January 26/20/24. As fraudulent, citing missing critical documentation including sales invoices, goods received notes and local purchase orders.

Notably, three major clients, Mombasa maize Millers Al-magrab and classical Garissa- linked to transactions worth of  SH 151, 393, 000 yet no supporting invoices were found, raising suspicions of fictitious sales.

The Audit further reveals significant discrepancies in foreign exchange rates used by the company with records showing higher rates than those set by the central Bank of Kenya. The inflated rates suggested deliberate attempt to siphon company funds through currency manipulation.

Beyond fake sales, the reports details how Khatwani directed 34 million into his personal bank accounts and a further 67,000,000 into his company, Galaxy Middle East and Africa limited, all through accounts at eco Bank.Investigators suspect that these funds were laundered and transferred to offshore accounts, as Khatwani operates between Mombasa and Dubai.  

Khatwani is not operating in isolation. His ties to influential business mogul Imran Khosla, a key player in Kenya’s communication technology industry, have raised concerns about the pace of DCI investigations. Khosla, who was recently seen rubbing shoulders with key political figures and top government officials at his son Zakir Khosla’s lavish Nyali wedding, is believed to be shielding Khatwani from legal action.  

During his tenure, Khatwani allegedly used threats and coercion to silence employees and directors who questioned his financial dealings. Now, even after his exit, reports indicate that he continues to intimidate former colleagues to prevent them from speaking out.  

Beyond the fraudulent transactions, Oki General Trading Limited also suffered Sh14 million in customs-related losses and Sh11.47 million in outstanding balance variances linked to the Nassib account. These additional financial losses paint a picture of a company left crippled by mismanagement and fraud.  

Despite mounting evidence, sources say the DCI has been forced to slow down its investigation due to Khatwani’s powerful backers. With money allegedly transferred abroad and political influence at play, the question remains: Will Khatwani face justice, or will he escape accountability like many before him? 

As pressure mounts on authorities to act, stakeholders and former employees of Oki General Trading Limited fear retaliation but remain hopeful that justice will prevail.

 

Comments

Post a Comment

Popular posts from this blog

KRCS Marks 60 Years of Impact with Vulnerable Groups in Heartwarming World Red Cross Day Celebration

-
Image
The Kenya Red Cross Society (KRCS) Mombasa Branch on Sunday hosted a vibrant and compassionate celebration of World Red Cross Day, dedicating the day to over 2,000 vulnerable children living with disabilities and senior citizens drawn from more than 20 special schools and charitable homes across the county. Image: Johnson Gachanja, chairman Redcross Mombasa county addressing the congregation in Mombasa. Held at Aga Khan Academy, this year’s commemoration marked 60 Years of Impact, aligning with the global Red Cross and Red Crescent Movement’s tribute to its founder, Sir Henry Dunant. The event spotlighted inclusion, dignity, and community service, true to Dunant’s legacy of humanitarianism. The festivities were filled with joy as children and elderly participants enjoyed games, performances, meals, snacks, goodie bags, and educational supplies—rare treats that left smiles and joy in their wake. Speaking during the event, KRCS Mombasa Branch Chairperson Johnson Gachanja emph...
Read more

Shimo La Tewa Old Boys Demand Principal’s Dismissal Over Alleged Mismanagement

-
Image
   Image;Shimo La Tewa, November 29, 2024 The Shimo La Tewa Old Boys Association (SOBA) has expressed deep disappointment in the management of their alma mater, calling for the immediate dismissal of the principal, Mr. Mathew Bindo Mutiso. During a press briefing earlier today, SOBA officials accused Mr. Mutiso of gross mismanagement and interference in ongoing investigations into his conduct. Speaking on behalf of SOBA, Dennis Ouna alleged that the principal has been using school resources to manipulate the outcome of investigations into his leadership. According to Ouna, Mr. Mutiso has compromised the Board of Management (BoM) and the Parent-Teacher Association (PTA), effectively turning them into rubber-stamp bodies. Ouna further claimed that the principal’s handpicking of BoM members undermines their ability to provide proper oversight, leaving the school in a precarious situation. Billy, another SOBA official, supported the allegations, accusing the principal of harassmen...
Read more

Islamic and Arabic Studies to Gain Ground in TVET Curriculum as Stakeholders Push for Recognition

-
Image
In a landmark move to integrate Islamic and Arabic languages into national vocational training, Sheikh Siraj Rahman College of Islamic Studies held a stakeholder meeting with TVET Curriculum Development Assessment and Certification Council (CDACC) to chart the development of a curriculum for levels 3 to 6 — covering certificate and diploma programs. The meeting, which brought together educators, curriculum developers, and religious leaders, aimed to pave the way for the formal inclusion of Islamic Religious Education (IRE) and Arabic studies into the Technical and Vocational Education and Training (TVET) system. This is set to offer certified qualifications recognized by the Ministry of Education. Dr. Musa Shauri, Executive Director at Sheikh Siraj Rahman College, announced the formation of a 7-member committee tasked with spearheading the development of the curriculum. “The curriculum review process is set to begin in the next two days pending confirmation by the CEO of TV...
Read more