The boss of a Nairobi-based real estate company has been arraigned for allegedly defrauding a client of Ksh.6.4 million for a house in the Syokimau suburb.
Abdiwahab Adan Maalim, the director of Vaad Limited, reportedly solicited the amount from a client, claiming he would construct a house as part of the Oakside Phase 2 project.
The Directorate of Criminal Investigations (DCI) says a complaint was filed with the investigative agency on December 30, 2024.
DCI says it established that Maalim had entered into a contractual agreement with the complainant on September 22, 2022, to construct a house.
“The agreement stipulated a total project cost of Ksh.13 million, which included a Ksh.3 million upfront deposit and subsequent periodic payments, all expected to be completed within 24 months,” says the agency.
However, seven months after the deposit was made, the complainant had reportedly disbursed a total of Ksh.6.4 million, but Maalim and his company had yet to commence any construction work.
“Over a year had passed since the agreed completion date, and neither the foundation nor any construction had begun,” DCI added.
Appearing before the Chief Magistrate’s Court at the Milimani Law Courts on Tuesday, Maalim pleaded not guilty to the charges and was released on a bond of Ksh.1 million and a cash bail of Ksh.100,000.
The case is set for mention on May 12, 2025.
DCI says it also probing other complaints it has received against Maalim and Vaad Limited and has appealed for more victim accounts against the suspected fraud scheme.
