The late former President Daniel Moi and his associates fraudulently acquired two titles to a Sh2.3 billion land in Nairobi’s Roysambu area which they used to sell the property to Uchumi Supermarkets #ticker:UCHUM and take a loan from Barclays Bank of Kenya, the predecessor to Absa Bank Kenya #ticker:ABSA.
A report by the National Assembly’s Departmental Committee on Lands reveals that the retail chain, banks, churches and the Kenya Defence Forces are among a group of victims that are staring at major losses from multiple fraudulent dealings on the a 17-acre land.
