The Financial Investigations Unit (FIU) at DCI Headquarters on 7th March 2019, launched investigations touching on allegations of a mega fraud scheme which was reported by the Ministry of Trade and Cooperatives and individual investors who had invested with Ekeza Sacco Society Limited ,Gakuyo Investors Club and Gakuyo Real Estate entities owned by David Kariuki Ngari alias Gakuyo.
The allegations were that close to 70,000 members had invested with the entities to a sum of Sh1.5 billion but their monies had been misappropriated.
Investigations commenced with over 200 sampled statements being recorded from the victims. The Ministry of Industry, Trade & Cooperatives also formed an audit team that found that a total of Sh 1,052,746,094 had been misappropriated by David Kariuki Ngari and other top managers between year 2015 and 2018.
Upon completion of the investigations, the inquiry file was forwarded to the ODPP for perusal and advice. The investigating team recommended offenses of conspiracy to defraud, stealing and obtaining money by false pretenses among other charges. A consent to charge by the ODPP was given on December 8, 2023.
Later on January 16, 2024, another 12 files on the same matter were forwarded to the ODPP for perusal and advice. On February 21, 2024 while still waiting for the consent to charge, the prime suspect (David Kariuki Ngari) was intercepted at the immigration desk of the Jomo Kenyatta Intn’l Airport (JKIA) while on transit to Zambia.
He was arrested and escorted to Muthaiga Police Station where he was processed and arraigned at Milimani Law Courts (court no.4).
On February 22, 2024, a miscellaneous application was filed at the court by the investigator, which sought custodial orders to have the suspect remanded pending completion of investigations and the consent to charge from the ODPP.
The presiding court has fixed the ruling for tomorrow, the 23rd of February, 2024 at 1130 hours before Hon. Onsarigo. Meanwhile, the suspect has been locked up at Muthaiga Police Station.
ALSO READ: DCI seeks 4 more days to detain Ekeza Sacco founder Gakuyo
