Gladdens Homes director charged over Ksh.28M housing fraud scheme

Bildad Nzuki Wambua, director of Gladdens Homes Limited, has been charged in connection with an alleged housing fraud scheme in which 22 victims are reported to have lost Ksh.28 million, following investigations by detectives based in Starehe Sub-County.

Wambua was arraigned at Madaraka Law Courts on September 2, 2026, and charged with multiple counts of obtaining money by false pretenses, contrary to Section 313 of the Penal Code. 

He is also facing money laundering charges. 

According to the charges, the accused is alleged to have targeted members of the public with promises of houses of varying designs on land title number Nairobi/Block A 40/474, purportedly under the Urban Housing Renewable Development LLP project.

The alleged victims are reported to have made payments through Gladdens Homes Agency, a privately registered entity associated with Wambua, after being induced by representations concerning the purported housing project.

The prosecution opposed Wambua's release on bond, with a ruling on the matter set for September 3, 2026. The case has been scheduled for mention on October 15, 2026.

The Directorate of Criminal Investigations (DCI) has urged members of the public who may have entered into similar transactions with Wambua or Gladdens Homes Agency, and who believe they may have been defrauded, to report to DCI offices in Starehe Sub-County for assistance and guidance.

The case comes against the backdrop of wider concern over fraud in Kenya's real estate sector. In 2025, the Institution of Surveyors of Kenya (ISK) issued a statement calling on government agencies responsible for licensing and registration to cancel the licences of unregistered firms operating in the property market.

ISK noted that the stakes are high given the size of the sector, which was valued at about Ksh.1.12 trillion and contributed 8.4 percent of Kenya's GDP in 2024, according to the Kenya National Bureau of Statistics.

Detectives have urged members of the public to exercise due diligence before making financial commitments in property transactions and to report suspected cases of fraud to law enforcement agencies.