ABC Bank blocked from auc­tion­ing prime South C land to re­cover Sh158m

The Star (Kenya) - - Counties Nairobi -

Two prime prop­er­ties in South C be­long­ing to busi­ness­man Mo­hamed Barre will not be auc­tioned af­ter all. This is af­ter a man who fraud­u­lently ob­tained the ti­tle deeds and charged them to ABC Bank agreed to an out-of-court set­tle­ment.

Barre last month wrote to the CBK and the Na­tional Land Com­mis­sion last week seek­ing help to stop the auc­tion. He said the plots were fraud­u­lently charged by ABC Bank. Barre ac­cused Mo­hamed Abubakar and Aress Ibrahim of Aima En­ter­prises of us­ing the ti­tles as col­lat­eral with­out his knowl­edge.

Bank doc­u­ments ob­tained from the Anti -Bank­ing Fraud Unit show the two col­luded with Gulf African and ABC banks to de­fraud Aden of his land in South C. The prop­erty has two ti­tles as it was sub­di­vided. ABC wanted to auc­tion the prop­er­ties to re­cover Sh158 mil­lion ad­vanced to Aima En­ter­prises.

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