BY NT BUSINESS TEAM.
A sensational dossier has been filed in the High Court relating to the alleged US100 million fraud perpetrated by local partners in the sale of Tatu City.
Foreign investors in the controversial Sh240 billion Tatu City project have filed the dossier alleging the illegal defraud of a prime land worth Sh5.3billion.
The founder of the majority shareholder- Rendeavour- businessman Stephen Jennings has sworn a statement implicating lawyer Nelson Havi, former Central Bank of Kenya (CBK) Governor Nahashon Nyagah and ousted Tatu City CEO Lucas Omariba of conniving to alienate and transfer more than 2,000 acres of farmland to third parties. The affidavit according to the stamp was filed and received on 2 of March ,2018.
Mr. Jennings has demanded an investigation into alleged parallel police investigations that have thwarted the prosecution of those responsible for the fraudulent activities which have virtually crippled the construction of the proposed Tatu City project.
He claimed a former top police officer was shielding the culprits and deserves to be probed.
The foreign investors claim they had already sold the prime land to a local developer-Daykio Plantations-but have been unable to transfer ownership upon the discovery that their local rivals had unlawfully secured possession of the property through Purple Saturn Properties Ltd.
They have already secured court orders to safeguard the property.
The international shareholders had made a formal complaint to the Directorate of Criminal Investigations on August 3, 2015, but after an exhaustive probe, detectives recommended the prosecution of Nyaga and eight of his associates.
However, the minority shareholders allegedly turned the tables on their foreign partners and demanded their prosecution.
Mr. Jennings, who is represented by Senior Counsel Ahmednassir Abdullahi, lodged his affidavit in opposition to a constitutional petition filed by Havi and lawyer Michael Osundwa challenging their proposed prosecution on the basis of the complaints by the foreign investors.
The two lawyers had filed a judicial review application in which they had accused Tobiko of alleged failure to pursue recommendations made by the former Director of Criminal Investigations, Ndegwa Muhoro, to prosecute Jennings and his co-directors.
The long-standing dispute took a dramatic turn yesterday when lawyer Havi made an application before High Court Judge John Mativo to withdraw his petition against the Inspector General of Police, the CID boss, and the DPP.
The Judge promptly allowed the withdrawal of the proceedings.
Previously, former Commercial Court Judge Joseph Onguto had rejected demands by Nyagah and his co-directors to b furnished with the recommendations made by the DPP on grounds that the dispute was being handled by the State multi-agency team.
There was no potential for injustice if the appraisal was not disclosed, the Judge observed, since the aggrieved parties had failed to establish mischief in the handling of the investigations and their hypothetical fears were unfounded.
The police have been investigating matters under two files relating to alleged forgery to the Registrar of Companies for change of shareholding and directorship of Purple Saturn Properties Ltd while the other one relates to the alleged fraudulent transfer of shares