Real estate company boss in court over Ksh.6.4M Syokimau house scam

Abdiwahab Adan Maalim, the director of Vaad Limited, is accused of defrauding a client of Ksh.6.4 million for a house in Syokimau. | PHOTO: DCI
The boss of a
Nairobi-based real estate company has been arraigned for allegedly defrauding a
client of Ksh.6.4 million for a house in the Syokimau suburb.
Abdiwahab Adan
Maalim, the director of Vaad Limited, reportedly solicited the amount from a
client, claiming he would construct a house as part of the Oakside Phase 2
project.
The Directorate
of Criminal Investigations (DCI) says a complaint was filed with the
investigative agency on December 30, 2024.
DCI says it
established that Maalim had entered into a contractual agreement with the
complainant on September 22, 2022, to construct a house.
“The agreement
stipulated a total project cost of Ksh.13 million, which included a Ksh.3
million upfront deposit and subsequent periodic payments, all expected to be
completed within 24 months,” says the agency.
However, seven
months after the deposit was made, the complainant had reportedly disbursed a
total of Ksh.6.4 million, but Maalim and his company had yet to commence any
construction work.
“Over a year had
passed since the agreed completion date, and neither the foundation nor any
construction had begun,” DCI added.
Appearing before
the Chief Magistrate’s Court at the Milimani Law Courts on Tuesday, Maalim pleaded not
guilty to the charges and was released on a bond of Ksh.1 million and a cash
bail of Ksh.100,000.
The case is set
for mention on May 12, 2025.
DCI says it also probing other complaints it has received against Maalim and Vaad Limited and has appealed for more victim accounts against the suspected fraud scheme.
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