The former Chase Bank chairman Mohammed Zafrullah Khan was on Wednesday charged with conspiring to defraud the bank of Sh. 1.7 billion.
The formed chief at Chase Bank was also charged with several counts of stealing from Chase Bank and one count of failing to comply with provisions of the Proceeds of Crime and Anti-Money Laundering Act.
Additionally, he was also charged with an alternative charge of failing to report suspicious transactions.
Mr. Khan was presented before Senior Principal Magistrate Martha Mutuku after his arrest on Tuesday night.
He denied all the charges read against him.
Mr. Khan is being pursued  together with six others for perpetrating a massive looting spree that led to the collapse of Chase Bank and the subsequent placement of the lender under receivership.
Mr. Khan is reported to have used funds from Chase Bank on luxuries worth tens of millions of money.
