The sports category has moved to a new website.
ADVERTISEMENT

Government to auction flamboyant bishop's multi-billion property in fraud scheme

It is a done deal

File image of Ferdinand Waititu (left) with United for Kiambu members John Mugwe James Nyoro Waititu's running mate Rev David Ngari Gakuyo and Acquiline Njoki

The government has resolved to auction the property bishop David Kariuki Ngare, famously known as Gakuyo the billionaire behind the Gakuyo Reals Estate and 3keza sacco fraud scheme.

The cash recovered from the sale of the property will be directed to refund investors who were swindled by the ‘man of God’ in an elaborate scheme.

Gakuyo is reported to have misappropriated funds totaling to billions of shillings to fund his lavish lifestyle, an amount which he was unable to refund.

In an interview with KTN, Gakuyo who heads the Thika-based Calvary Chosen Centre welcomed the sale of his assets but insisted that he must be involved in the process.

ADVERTISEMENT

Gakuyo made the remarks after an audit report placed him at the center of the fraud scheme.

In its directive, the government held that the bishop, his wife and his firm Gakuyo Real estateshould “suffer the seizures” to recover monies owed to members of Ekeza Sacco.

The report oncluded that Gakuyo started out with the aim of enriching himself and had no intention of helping members to buy land via his firm, Gakuyo Real Estate.

"All staff who irregularly loaned themselves monies from Ekeza must make arrangements to repay the monies or will have their properties seized to recover the same," the report further directed.

ADVERTISEMENT

Reports indicate that the bishop frustrated all efforts to audit the two firms even as h embarked on a spending spree.

Gakuyo, his personal assistant James Kimani and the sacco's former CEO Gladys Muriithi directly withdrew huge amounts of money from Ekeza.

The funds were allegedly delivered to the bishop’s house while another chunk was reportedly spent on building houses on Gakuyo’s land.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Kisumu businessman counting losses after goons vandalized his supermarket [Video]

Kisumu businessman counting losses after goons vandalized his supermarket [Video]

14 dead after university bus collides with matatu

14 dead after university bus collides with matatu

Student nurses severe injuries after 107 strokes of cane from teacher

Student nurses severe injuries after 107 strokes of cane from teacher

Man who sneaked his way into President's proximity dies

Man who sneaked his way into President's proximity dies

Replacing CBK Governor Njoroge: Salary, benefits & requirements

Replacing CBK Governor Njoroge: Salary, benefits & requirements

Itumbi stands by Jacky Maribe's innocence in high-profile murder case

Itumbi stands by Jacky Maribe's innocence in high-profile murder case

DCI boss visits DJ Fatxo's home

DCI boss visits DJ Fatxo's home

Senator Sifuna's mission at DCI headquarters

Senator Sifuna's mission at DCI headquarters

Don't export protests to Nairobi - Sakaja fires back at Kisumu Governor

Don't export protests to Nairobi - Sakaja fires back at Kisumu Governor

Pulse Sports

Ferdinand Omanyala storms to 100m world-leading time, makes February history

Ferdinand Omanyala storms to 100m world-leading time, makes February history

Report: Erik ten Hag rules out trophy parade if Manchester United win

Report: Erik ten Hag rules out trophy parade if Manchester United win

Ranking Xavi’s European exits with Barcelona

Ranking Xavi’s European exits with Barcelona

Video: Christian Atsu’s remains arrive in Ghana

Video: Christian Atsu’s remains arrive in Ghana

Atsu’s body to be brought home for burial - Ghana Embassy

Atsu’s body to be brought home for burial - Ghana Embassy

Sad news: Christian Atsu found dead in Turkey

Sad news: Christian Atsu found dead in Turkey

How well do you know your favourite La Liga club?

How well do you know your favourite La Liga club?

Messi gives in to Alphonso Davies' demand after 3 years

Messi gives in to Alphonso Davies' demand after 3 years

Why Greenwood could have played his last match for United

Why Greenwood could have played his last match for United

ADVERTISEMENT