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Kenyatta University Lecturer Charged in Ksh 55.5 Million Share Scam
He was further charged with using the obtained money to purchase properties reasonably knowing that the said money forms part of the proceeds of crime.
A university lecturer has been charged at a Nairobi court with obtaining Ksh 55.5 million in pretences that he would sell shares from a company which was a false fact.
George Maina Muriithi, (pictured) from Kenyatta University appeared before the Milimani senior principal magistrate Robinson Ondieki where he was faced with three counts of obtaining money by pretences, use of proceeds of crime and acquisition of property contrary to the law.
The prosecution told the court that on diverse dates between November 15, 2022, and January 1, 2024, within Nairobi in the republic of Kenya jointly with others who were not before the court with intent to defraud obtained Ksh 55.5 million from Martin Gitonga Kamandu by falsely pretending that he was in a position to sell him 48,800 ordinary shares from Mara Ndovu Lodge Limited a fact he knew was false.
At the same period of time and place, Muriithi acquired 55.5 million from Otieno and Ambrose advocates the property of the aforementioned complainant whilst at the same time of the acquisition he knew or had reasons to believe that the money formed the proceeds of crime.
He was further charged with using the obtained money to purchase properties reasonably knowing that the said money forms part of the proceeds of crime.
He denied the charges and applied to be released on bond terms,
“Your honor, I am a lecturer at Kenyatta University and a business man and I am willing to comply with the orders set by the court,” he pleaded.
The prosecution opposed the prayers of release on bail citing that the accused is a flight risk and is also feared to interfere with the witnesses,
“Your honor we oppose the release of the accused person on bond since he poses to be a flight and a threat to interfere with witnesses,” the prosecution urged the magistrate.
In determination, the magistrate ordered the accused to be detained at Capitol Hill Police Station until Tuesday when the court will determine his bail plea.
