Property sale halted in youth cash case
The apartment was allegedly bought with part of the Sh180 million stolen from the Youth Enterprise Development Fund. Judge Ong’udi prohibited the transfer, mortgage, attachment, disposal of the property
The High Court yesterday issued orders stopping the transfer and sale of a luxury apartment. The apartment was allegedly bought with part of the Sh180 million stolen from the Youth Enterprise Development Fund.
In the ruling, Justice Hedwig Ong’udi prohibited the transfer, mortgage, attachment, disposal of or any other dealing with the property, a duplex apartment in Kileleshwa, Nairobi, for six months.
The orders were issued following an application by the Asset Recovery Agency. Ong’udi also ordered businessman Ezekiel Otieno to deposit Sh8,800,000 in an escrow account to be held jointly by him and the agency, pending the determination of the suit.
“The money should be deposited in an escrow account within the next 30 days,” the judge said.
Suspended Youth Enterprise Development Fund boss Catherine Namuye and former board chairman Bruce Odhiambo have been charged with 12 counts of corruption in relation to the loss of Sh180 million from the Fund.
ARA in court documents says the DCI established the funds were fraudulently transferred by Quorandum Ltd from the Fund and used to purchase the apartment for Sh48,500,000.
Otieno is a beneficiary of Sh8,800,000, being part of funds transferred from the bank account of the YEDF. The property was allegedly bought from Duchess Park Development Company Ltd.
Others charged over the Youth Fund theft are Mukuria Ngamau and Doreen Waithera.
Doreen Waithera, Mukuria Ngamau, suspended Youth Enterprise Development Fund chairman Bruce Odhiambo and CEO Catherine Namuye at the Milimani law courts on August 26