A businessman was yesterday arraigned in court and charged with 22 counts of defrauding 6 business directors.
James Irura Kagwamba with the intent to deceive forged signatures belonging to Bethwel Maina Muhuhi and other directors of Muvir Holdings Limited, on a document namely Minutes of the Directors meeting allegedly held on 7th July 2006.
According to the police report, Bethwel Maina Muhuhi was approached in the year 2002 by one of his friend Francis Mburu Kimani (now deceased) to rescue a company in which he was a director but had no finances to register the company.
He bought 156 shares amounting to 35% of the company shares at a price of Ksh 350,000 and in return was appointed one of the Directors.
In the year 2013 he realized that an intruder in the company had forged the transfer of all the shares and removed 6 of the Directors appointing himself Managing Director.
James Irura Kagwamba allegedly disposed off the property at a cost of Ksh 135 million and claimed Ksh 120 million in rent arrears.
The complaint reported the matter to DCI Nairobi where investigations commenced.
James was arrested and arraigned in Court.
He was released on a bond of Ksh 1 million by Kibera resident magistrate William Tulel.