Due to his nonattendance in a 1.5 billion fraud case, businessman Yagnesh Devani has an arrest warrant issued against him.

The prosecution requested that a bail warrant be issued for Devani's arrest after the case was scheduled for mention on Tuesday, but the accused did not attend court.

Magistrate Robinson Ondieki issued the warrant for the arrest.

Devani was accused last month of stealing 318.656 metric tonnes of jet fuel from the Kenya Commercial Bank, valued at Ksh. 1.5 billion.

He was previously accused of conspiring with four other people to defraud Kenya Commercial Bank of Ksh 1.9 billion through Triton Petroleum Company in a different case.

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The court then declared the prosecution's failure to substantiate the fraud allegations against Yagnesh, Mahindra Pathak, Julius Kilonzo, Collins Otieno Benedict Mutua, and Triton Petroleum Company inadmissible.

The five were accused of planning to defraud KCB by falsely discounting invoices to Triton Petroleum totaling Ksh 1.9 billion, exceeding the cap authorized by the KCB board of directors, even though Triton had not sold any oil.

Despite being the first accused, Devani did not participate in the proceedings because he was still at large.