The Director of Mara Ndovu Lodge Limited, George Maina Muriithi, has been arraigned at the Milimani Law Courts over allegations of defrauding a businessman of Sh48.8 million in a fake investment scheme.
According to the Directorate of Criminal Investigations (DCI), Muriithi lured the investor in October 2022 by offering 48,800 non-existent shares in the lodge at a price of Sh1,000 each. The complainant reportedly made the full payment in two instalments, following the signing of a formal share purchase agreement on December 22, 2022.
However, despite the agreement, the shares were never transferred. The DCI said Muriithi became unreachable and failed to honour the terms, leading investigators to conclude the deal was a deliberate fraud.
Muriithi has pleaded not guilty to the charges. Prosecutors opposed his release on bond, citing fears he could abscond. He has been remanded at Capitol Hill Police Station pending a ruling on his bail application, set for July 15.
The case underscores growing concerns over white-collar crime and investor protection in Kenya’s business environment.
