Mbo-I Kamiti warns of fake share sellers

Directors of Mbo-I Kamiti Farmers’ Company in Kiambu have asked the public to be wary of people selling fake shares.

Led by the board chairman, Mr Thuo Mathenge, the directors said over 100 people have been swindled by the cartel.

Mr Mathenge said the dubious activity was being carried out by some directors and employees at the land buying company.

He said that if anyone was interested in buying shares at the company, he or she should visit the officer for verification before ditching out the money.

Mr Gabriel Njure, the vice-chairman, said that over Sh 10 million had been swindled from the public with some losing over Sh400, 000 each.

This, he said was discovered in a share verification exercise being carried out by the company.

He noted that several cases had been referred to Kiambu Police Station for investigation and others were in court.

“At least two fake share certificates are discovered every week and we fear the activity of selling these shares is still on,” Mr Njure said.

The directors urged shareholders to visit the company to verify their shares.