Witnesses Expose Sh356 Million Theft in Oki Trading Company Fraud Case
Quote from Lawyer on September 26, 2025, 6:28 amIn a gripping court case at Nairobi's Milimani Law Courts, two witnesses have provided detailed accounts of financial fraud and workplace exploitation under the leadership of Honey Khatwani, the former managing director of Oki Trading Company Limited (OTCL). Khatwani faces charges of stealing Sh356 million from the company between January 2020 and June 2024, with allegations of systematic financial manipulation and coercive employment practices at the center of the case.
The first witness, Jatin Aswani, an OTCL employee since July 2023, described a workplace marked by irregular practices. Aswani testified that he worked without proper documentation, as Khatwani repeatedly failed to facilitate his work permit application despite multiple requests. He noted that much of the communication with Khatwani occurred informally, often through phone calls rather than documented channels, stating that not all interactions were recorded in emails. Aswani also revealed that he signed an employment contract but was never provided a copy, as such documents were retained exclusively by the director.
Further, Aswani disclosed that employees were paid in cash, despite requests for formal banking arrangements, which added to the lack of transparency in OTCL's operations. He alleged that Khatwani used verbal threats to coerce employees into compliance, though he admitted there was no physical evidence to substantiate these claims. Aswani's testimony highlighted a workplace environment where employees operated under irregular and precarious conditions.
The second witness, Sameer Kewal Ramani, identified as a relative of Khatwani, provided critical insights into the financial misconduct at OTCL. Ramani testified that he was instructed to deposit company funds into Khatwani's personal Ecobank account, in both Kenyan shillings and US dollars, as well as into his wife's M-Pesa account. Daily sales reports were shared via WhatsApp, which Khatwani allegedly manipulated to conceal financial discrepancies. Ramani explained that he sent bank receipts to Khatwani via WhatsApp after depositing funds into the personal accounts, further illustrating the informal and irregular handling of company finances.
Ramani also revealed that Khatwani established a competing business, Galaxy Middle East Africa Limited, while still serving as OTCL's managing director. According to Ramani, Khatwani contacted OTCL clients directly to divert business to his new venture, undermining the company's interests. The court learned that the fraudulent scheme unraveled following an audit, which uncovered that Sh356,711,806 had been misappropriated over the four-year period. The audit further revealed that Khatwani allegedly received clients' cheques meant for OTCL in his personal accounts and created fake invoices to mask the extent of the theft.
The combined testimonies of Aswani and Ramani paint a troubling picture of OTCL's operations under Khatwani's leadership. Aswani's account underscores a lack of formal employment practices and transparency, while Ramani's revelations expose a sophisticated scheme to divert company funds through personal accounts and falsified records. The allegations suggest that normal financial controls were deliberately bypassed, enabling the large-scale theft.
The case, presided over by Senior Principal Magistrate Dolphina Alego, continues to unfold as the court reviews additional evidence, including financial records and communication logs. These documents are expected to shed further light on the scope of the alleged financial manipulation and the inner workings of OTCL during Khatwani's tenure. As the legal proceedings progress, the case raises serious questions about corporate governance and accountability within the company.
In a gripping court case at Nairobi's Milimani Law Courts, two witnesses have provided detailed accounts of financial fraud and workplace exploitation under the leadership of Honey Khatwani, the former managing director of Oki Trading Company Limited (OTCL). Khatwani faces charges of stealing Sh356 million from the company between January 2020 and June 2024, with allegations of systematic financial manipulation and coercive employment practices at the center of the case.
The first witness, Jatin Aswani, an OTCL employee since July 2023, described a workplace marked by irregular practices. Aswani testified that he worked without proper documentation, as Khatwani repeatedly failed to facilitate his work permit application despite multiple requests. He noted that much of the communication with Khatwani occurred informally, often through phone calls rather than documented channels, stating that not all interactions were recorded in emails. Aswani also revealed that he signed an employment contract but was never provided a copy, as such documents were retained exclusively by the director.
Further, Aswani disclosed that employees were paid in cash, despite requests for formal banking arrangements, which added to the lack of transparency in OTCL's operations. He alleged that Khatwani used verbal threats to coerce employees into compliance, though he admitted there was no physical evidence to substantiate these claims. Aswani's testimony highlighted a workplace environment where employees operated under irregular and precarious conditions.
The second witness, Sameer Kewal Ramani, identified as a relative of Khatwani, provided critical insights into the financial misconduct at OTCL. Ramani testified that he was instructed to deposit company funds into Khatwani's personal Ecobank account, in both Kenyan shillings and US dollars, as well as into his wife's M-Pesa account. Daily sales reports were shared via WhatsApp, which Khatwani allegedly manipulated to conceal financial discrepancies. Ramani explained that he sent bank receipts to Khatwani via WhatsApp after depositing funds into the personal accounts, further illustrating the informal and irregular handling of company finances.
Ramani also revealed that Khatwani established a competing business, Galaxy Middle East Africa Limited, while still serving as OTCL's managing director. According to Ramani, Khatwani contacted OTCL clients directly to divert business to his new venture, undermining the company's interests. The court learned that the fraudulent scheme unraveled following an audit, which uncovered that Sh356,711,806 had been misappropriated over the four-year period. The audit further revealed that Khatwani allegedly received clients' cheques meant for OTCL in his personal accounts and created fake invoices to mask the extent of the theft.
The combined testimonies of Aswani and Ramani paint a troubling picture of OTCL's operations under Khatwani's leadership. Aswani's account underscores a lack of formal employment practices and transparency, while Ramani's revelations expose a sophisticated scheme to divert company funds through personal accounts and falsified records. The allegations suggest that normal financial controls were deliberately bypassed, enabling the large-scale theft.
The case, presided over by Senior Principal Magistrate Dolphina Alego, continues to unfold as the court reviews additional evidence, including financial records and communication logs. These documents are expected to shed further light on the scope of the alleged financial manipulation and the inner workings of OTCL during Khatwani's tenure. As the legal proceedings progress, the case raises serious questions about corporate governance and accountability within the company.