THE showdown at Tatu City has intensified with international investors accusing their Kenyan partners of fraudulent transfer of shares and the attempted theft of land worth Sh5.6 billion.
Last week the CID interviewed 10 people in connection with the attempted fraud, seven of them nominee shareholders whose names were used to try and grab 1,183 acres of land that had been bought by tycoon Titus Muya. The land was valued in 2014 at $55 million ( Sh5.6 billion) by Knight Frank.
The allegedly stolen land was hived off from the vast parcels of land in Kiambu acquired by giant real estate company Rendeavour in 2007 and 2009.
"The property was in the process of being purchased by Daykio Ltd ( Titus Muya). In effect Daykio is also a victim of Nyagah's crime," Jennings told the CID.
Stephen Jennings, the Rendeavour CEO, is accusing former Central Bank governor Nahashon Nyagah and former Tatu City CEO Lucas Omariba of attempting to fraudulently transfer control of the land to third parties. The transfer was handled by lawyer Nelson Havi. Nyagah is still technically the chairman of Tatu City although the board has not been sitting because of the internal disputes.
Rendeavour is a huge real estate company that is setting up new satellite cities in multiple countries across Africa. Hwoever the complainant to CID is Kofinaf, now owned by Rendeavour. Kofinaf, former Socfinaf, was a Belgian company from colonial times that was Kenya's largest coffee grower.
The people interviewed by CID tell largely the same story - they did not understand what they were told to sign.
Omariba, the Tatu CIty CEO, was fired in February after the unauthorised share transfers came to light. He has not yet been interviewed by CID and is allegedly in hiding.
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