In a shocking twist to one of Kenya’s largest corporate fraud cases, controversial billionaire and oil tycoon Yagnesh Devani has walked free.

Sixteen years after orchestrating a scheme to syphon millions from Kenya's oil reserves through Triton Petroleum, Devani no longer faces charges, with the courts declaring he has no case to answer.

The decision, delivered by Anti-Corruption Magistrate Harrison Barasa, followed an application by Director of Public Prosecutions Renson Ingonga to withdraw the case.