Presidential candidate Cyrus Jirongo has been declared bankrupt by the courts after failing to pay a debt worth Sh700 million debt.
Top Presidential candidate declared bankrupt
Following his failed pursuit, the presidential candidate has been left with huge amounts of debts he can no longer pay.
Cyrus who was the United Democratic Party’s presidential candidate for the August elections was determined by the Courts on Monday to not be in a financial position to pay back the humongous debt.
This is not his first dealing with the law as the presidential candidate has lost most of his property in auctions as ordered by the courts.
Cyrus Jirongo lost property worth Sh102 million after failing to service a loan of Sh495 million that he owed Dubai Bank.
But this just tip of the iceberg.
COTU Secretary General Francis Atwoli also accused him of failing to pay Sh110 million that he had lent him during the presidential campaign.
Mr Jirongo has also been a defendant to a case by top businessmen Brian Vongo who sued him for not paying Sh25 million that he owed him.
Cyrus claimed that he is not to be blamed for his debts stating that it was Nairobi City Council that was remitting his money.
He said, “Though Kuza Farms and Allied LTD is owed Sh 250 million, the said amount has not been paid and I am not to blame for the delay and default by the Nairobi City Council in remitting the money.”
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