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.
Government to auction flamboyant bishop's multi-billion property in fraud scheme
It is a done deal
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.
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.
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!
Eyewitness? Submit your stories now via social or: