Police spokesperson Peter Kalaya has confirmed the arrest of former chairperson of for Salima Sugar Company, Sherieesh Bitgiri on four counts of Trustees fraudulent disposing of trust property, money laundering, fraud and execution of a security by false pretences.

According to Kalaya, police have also established that Bitgiri also registered another company by the name Salima Sugar in Dubai.

While in Dubai, he also obtained a $300 million loan using the name Salima Sugar without involvement of all the trustees of Salima Sugar.

Kalaya said Bitgiri is also involved in criminal money.

Bitgiri expected to be taken to court today.