A Kilifi Chief Magistrate has ordered the 72-year-old Italian National with Kenyan Citizenship to be released on a Ksh 2 million bond with a surety of a similar amount or a cash bail of Ksh 1 million.

The Magistrate also ordered Daniel Ricci, the accused tycoon, to deposit his passport in court and that in case he wanted to travel outside the country he should file an application in court to get orders of the same.

Ricci who is facing five counts of Fraud was arrested on Friday at Ganda ward of Malindi in Kilifi county following a warrant of arrest issued by the Chief Magistrate Court in Kilifi on March 6 after the tycoon absconded court since November 15, 2024.

In the First Count Ricci was charged that on Various dates between January 7 2021  and September 29 2021 at Malindi within Kilifi County being an agent of the seller Gala Holdings limited with intent to defraud  Ravina Beach Gardens Limited, the purchaser to accept the certificate of title potion number 637-Mamburui.

Ricci was also charged with receiving Ksh 35 million from Ravina Beach Gardens limited between January 7 2021 and October 3 2024 with intention to defraud, pretending he was in a position to sell to him land portion number 637-Mamburui registered in the names of Gala holdings limited a fact he knew was false.

He was also charged with falsely presenting himself as the director of Gala Holdings limited and proprietor of land parcel number 637 Mamburui on the same diverse dates, a fact he also knew was false.

Immediately after the ruling was issued, the prosecution filed an application seeking to detain his mobile phone as it was part of the investigation that is going on.

Ricci who is represented by Lawyer Tukero Ole Kina dismissed the application saying the phone was the accused person’s personal privacy and surrendering it would mean intruding his privacy.

The Magistrate is set to make a ruling on the  application by the prosecution to have the phone of the accused.