Lodge director in court over alleged Ksh.48.8M fake investment deal

According to the Directorate of Criminal Investigations (DCI), George Maina Muriithi orchestrated the plot in October 2022, trying to sell 48,800 shares in Mara Ndovu Lodge Limited, each priced at Ksh.1,000, amounting to a total of Ksh.48.8 million.

Enticed by the deal, the victim deposited the full amount, but Muriithi allegedly became unreachable and failed to transfer the said shares. 

The victim later filed a complaint at Parklands Police Station whereby the police launched investigations and uncovered that a formal share purchase agreement was drafted on December 22, 2022, by Otieno & Ambrose Advocates on Muriithi's behalf.

The agreement outlined the sale of 48,800 ordinary shares at the agreed price. The police determined that the funds were deposited in two instalments through the law firm but the shares were never transferred to the victim as agreed. 

Following his arrest and subsequent arraignment in court, Muriithi pleaded not guilty to the charges. Detectives, however, opposed his release on bond, citing that he poses a flight risk. 

The court ordered the suspect to remain in custody at Capitol Hill Police Station pending a bond ruling scheduled for July 15, 2025.