A Director of Mara Ndovu Lodge Limited has been brought before the Milimani Law Courts, facing allegations of defrauding an unsuspecting individual out of Ksh.48.8 million through a fraudulent investment scheme.
The Directorate of Criminal Investigations (DCI) reports that George Maina Muriithi devised this scheme in October 2022, attempting to sell 48,800 shares in the lodge, each priced at Ksh.1,000, which collectively amounted to Ksh.48.8 million.
Lured by the promise of a lucrative investment, the victim transferred the entire sum; however, Muriithi subsequently became uncontactable and failed to deliver the promised shares, leading to the legal action against him.
The victim later filed a complaint at Parklands Police Station whereby the police launched investigations and uncovered that a formal share purchase agreement was drafted on December 22, 2022, by Otieno & Ambrose Advocates on Muriithi’s behalf.
The agreement outlined the sale of 48,800 ordinary shares at the agreed price. The police determined that the funds were deposited in two instalments through the law firm but the shares were never transferred to the victim as agreed.
Following his arrest and subsequent arraignment in court, Muriithi pleaded not guilty to the charges. Detectives, however, opposed his release on bond, citing that he poses a flight risk.
The court ordered the suspect to remain in custody at Capitol Hill Police Station pending a bond ruling scheduled for July 15, 2025.
