Former Tetu MP Ndungu Gethenji is not the controlling shareholder of Kihingo Village.
The Management has said the claims are false.
In a press release, the management said Kihingo Village (Waridi Gardens) Management Ltd, which is the holding company for the estate, has 55 ordinary shares ( one for each house including Ndingu’s).
The release went on to say that, Ndungu also claims to have 60 ‘B’ shares in Kihingo Village (Waridi Gardens) Management Ltd through another company called Kihingo Village (Waridi Gardens) Management One Ltd.
“In 2016 the arbitrator John Ohaga ruled that there should be no ‘B’ shares. But, even if there were, KVWGM One is jointly owned by Ndungu and his brother Gitahi with whom he is fighting – they each own one share in that company. So, the use of those ‘B’ shares would split 50-50 in case they were used in a vote, therefore those ‘B’ would not give him control of Kihingo estate, even if they were genuine,” the statement read.
The Management added that even in the original development company for Kihingo Village, Ndungu only held one share out of four – the other three were held by his mother and two brothers.
Kihingo Village (Waridi Gardens) Ltd, the development company, has distanced itself from Ndungu’s actions.
According to the management, the former MP was to appear at the Chief Magistrates Court in Milimani.
The management said he is likely to face charges relating to forgery of board minutes of a company related to Kihingo estate.
This is why he was arrested and interviewed by DCI last week.
“The minutes filed by Ndungu through his E-Citizen account claimed that Chacha Mabanga had been appointed a director of Kihingo Village (Waridi Gardens) Management One Ltd in November 2018. Yet Ndungu’s co-director Gitahi Gethenji and Charles Njenga, the alleged secretary of the meeting, denied attending any such board meeting,” the management said.