Kenyan business tycoon Ketan Somaia is set to repay Sh2 billion he fleeced investors after wooing them with Champagne parties and luxury trips on private jets.
According to Dail Mail, Judge Richard Hone QC is set to hand down a confiscation order, forcing Somaia, 54, to pay back the money or face an extra ten years in jail.
Somaia was in July 2014, convicted of nine counts of fraud after a private prosecution launched by his victim and former friend Murli Mirchandani.
Mirchandani lost nearly £13,450,000 between 1999 and 2000 while a second investor Dilip Shah lost £134,535.
This will be the largest ever confiscation order handed down in a case which has been pursued privately.
Following a protracted legal battle, the judge is set to rule Somaia has two properties, a bank account, two cars - a Land Rover Discovery and a Range Rover - and 'hidden assets but their extent is totally unknown', Daily Mail report says.
The judge was persuaded to delay handing down his judgement until January 8 so Somaia, who was not present, could contest the ten-year default period if he fails to repay the money within six months.
The judge is set to order Somaia to repay £134,535 to Shah, £12,256,641 to Mirchandani, and nearly £1,355,000 in confiscation for his other criminal activities.
Defence lawyer James Woods QC said Somaia, who suffers from kidney disease and has dialysis three times a week, has only a 20 per cent chance of surviving the next five years because of his heart and kidney problems.
'His life expectancy is short and he is already serving an eight year sentence', he said.
Somaia had protracted property wars with among others Kamlesh Pattni over ownership of tourist hotels before fleeing Kenya for UK.
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