Firm in Sh180m youth fund fraud stopped from interfering with property

From left, directors of Quorandum Ltd Doreen Waithera Nganga and Mukuria Ngamau, former Youth Enterprise Development Fund chairman Bruce Odhiambo and suspended boss Catherine Namuye in a Nairobi Court on August 26, 2016 where they were charged with corruption in the loss of Sh180 million of public money. PHOTO | PAUL WAWERU | NATION MEDIA GROUP

What you need to know:

  • Lady Justice Ong’undi also ordered Mr Owour to deposit Sh8,800,000 into an Escrow account in the joint names of ARA and his within the next 30 days pending the hearing and determination of the case.
  • According to ARA’s Director Muthoni Kimani, the Director of Criminal Investigations had already established that Sh180,894,946 was fraudulently transferred from YEDF to Quorandum limited account at Chase Bank who later transferred part of it to Mr Owuor

The High Court has temporarily stopped a company at the centre of Sh180 million fraudulently transferred from the Youth Enterprise Development Fund, from interfering with property acquired using the money.

“A preservation order be and is hereby issued stopping the transfer, mortgage, attachment, disposal or dealing with property known as Duplex Apartment number C16 situated on L.R No. 209/5990/13 for a period of six months,” Lady Justice Hellen Ong’undi said in a ruling on Thursday.

Lady Justice Ong’undi also ordered Mr Owour to deposit Sh8,800,000 into an Escrow account in the joint names of ARA and his within the next 30 days pending the hearing and determination of the case.

According to ARA’s Director Muthoni Kimani, the Director of Criminal Investigations had already established that Sh180,894,946 was fraudulently transferred from YEDF to Quorandum limited account at Chase Bank who later transferred part of it to Mr Owuor.

She told the court that part of the monies was also used to purchase Duplex apartment number C16 from Duchess Park Development Company.

Considering the fact that Mr Owuor was arraigned in court with others and charged with unlawful acquisition of public property, ARA claimed that there is a high probability that the acquired property may be disposed-off.

“The investigations have revealed a clear case of fraud and theft of public funds and if the orders sought are not granted, the said property may be disposed yet benefits derived from proceeds of crime are liable for recovery,” Ms Muthoni said.

The said monies saw the Youth Fund boss Catherine Namuye suspended from her position and charged in court together with former board chairman Bruce Adhiambo for 12 counts on corruption related offences allegedly committed last year.

Ms Namuye and Mr Odhiambo were charged alongside the directors of Quorandum Ltd, Mukuria Ngamau and Doreen Waithera, a couple, who were flown from Mombasa to answer to the multiple charges before an anti-corruption court in Nairobi in August.