Police launch manhunt for CEO on the run over Sh19M scandal

Goldenscape CEO on the run from the law

Goldenscape CEO Peter Wangai

The police have launched a manhunt for Goldenscape CEO Peter Wangai who is accused of swindling millions from clients who invested in his real estate firm.

A warrant of arrest was issued against Wangai for failing to appear in court on Monday, May 5, 2021.

According to police documents, the businessman was charged with the offence of obtaining money by false pretenses, conspiracy to defraud, false representation, issuing bad cheques among other charges.

He was scheduled to appear in court on Monday, when the chief magistrate was supposed to examine the CEO’s medical report to rule whether he would be taking a plea.

Wangai’s lawyer had argued that he had contracted Covid-19 and thus was unable to take a plea on March 24.

Court documents state that the hearing of the case is scheduled for May 17.

Director of Public Prosecutions Noordin Haji has prepared an arsenal of 360 criminal charges held in 18 files against the businessman.

His defence team argues that Wangai was not to blame for the loss of Sh19 million investors’ cash because he was only a director at the company.

Goldenscape Greenhouses promised investors an attractive return on investment for their clients, luring hundreds in investors.

For example in one of the schemes, an investor who had committed Sh320,000 was supposed to reap a Sh550,000 after only six months.

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