Constitutional and Human Rights judge David Majanja directed the police commissioner and the CID director to stop the arrest of the KCB’s company secretary, David Malakwen, and director of credit Wilfred Sang on accusations of manipulating the loan accounts belonging to Muigai and Associate company, Benjoh Amalgamated Ltd.
The anti-banking fraud unit has been barred from arresting two senior KCB managers for alleged manipulation of a bank account held by the late President Kenyatta’s nephew, Ngengi Muigai, over a dispute involving the sale of 443 acres of land in Kiambu County.
Constitutional and Human Rights judge David Majanja directed the police commissioner and the CID director to stop the arrest of the bank’s company secretary, David Malakwen, and director of credit Wilfred Sang on accusations of manipulating the loan accounts belonging to Muigai and Associate company, Benjoh Amalgamated Ltd.
Mr Muigai had obtained orders under the Kenya Police Act to have the police investigate his account at KCB to establish how the institution had arrived at the interests allegedly loaded in his loan account and to compel the managers to adduce evidence in court relating to the alleged sale of the property.
KCB sold the 443-acre Muiri Coffee Estate which Benjoh Amalgamated had used as collateral to secure a loan in 1989.
Muiri is a company owned by Mr Muigai while Benjoh belongs to his brother Captain Kung’u Muigai.
Accused
The bank sold the vast land to Bidii Kenya Ltd on September 19, 2007 for Sh70 million.
However, Mr Muigai contested the sale, saying the property was worth more than Sh700 million. He has since and filed 12 suits which have all been thrown out.
He accused the two bank senior managers of making a document without authority and conspiring to defraud.
KCB through denied the allegations, saying the move by Mr Muigai was a ploy to obtain information from them over the dispute that was still pending in court.
Through lawyer Philip Nyachoti, the bank said the two managers were not involved in the sale of the Muiri farm and accused Muigai of intimidation and harassment.
The lawyer said the bank had followed the proper procedure in disposing of the property after Mr Muigai’s firm defaulted in repaying the loan. Documents filed in court indicate that Benjoh had repaid Sh6 million.
The bank lawyer further told the court that the harassment of the managers was an abuse of their constitutional rights arguing that issues surrounding the sale had been determined by the court.
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