An international investor who intended to invest in a real estate business in Nairobi is lamenting after the loss of more than Sh 500 million in a bid to invest after he was defrauded by an Egyptian national.
According to our sources, the investor wanted to invest in a company that purported to sell luxurious residential and commercial properties known as Grand Premier Apartment through AAD Real Estate situated in Lavington.
The investor trusted an Egyptian national Waseem Ahmed Ahmed Elsaei who is working in Kenya through the said Company where he had promised to hand over both the residential and commercial properties by December 2023 but to date, the projects remain a ghost town and he has failed to produce sufficient reasons.
The international investors were informed by Waseem there are ways to avoid full payment of taxes in Kenya that and that is evidenced by documents under key and lock.
Upon the client’s refusal to commit tax fraud, Waseem turned wild and refused to refund the monies he obtained.
The matter was filed in court through counsel Danstan Omari seeking the court’s intervention to freeze the accounts in a bid to salvage the investor’s hard-earned money.
Upon verifying the grounds, the court granted orders to freeze the accounts which are in the process of ensuring compliance.
The matter will be mentioned in January 2025 for further directions.