Investigations into Thika businessman disappearance show he was a ’poor millionaire’

Julius Gotau
Julius Gitau, a Thika businessman who has been missing for nine days. [Photo: Nation]

Investigations into the disappearance of Thika businessman Juliu Gitau has revealed the other side of what was life was to be like in a matter of months.

Gitau was wallowing in debts and he was depressed that his Ksh600 million empire would soon fizzle away as auctioneers and creditors camped outside his work premises in Thika town.

Investigations into his mysterious disappearance have so far revealed that Gitau was a ‘poor millionaire’ despite having an empire and 16 children from his three wives.

His is a story of heavy borrowing coupled with poor decision making.

According to Daily Nation, Gitau in one of the loans that he took, he secured a commercial loan of Ksh46 million and used Ksh200 million assets as collateral.

As if this wasn’t enough, he took a Ksh58 million life insurance cover which he again used to borrow Ksh10 million from a local bank.

Popularly known as Gitau wa Mali, he disappeared on September 21 after leaving his business premises, a general wholesaler shop in Thika town for Ngoingwa where he said he would be for gym sessions.

He left in one of his lorries but 30 minutes later, called his driver to pick up the lorry at Blue Post Hotel.

The driver, Geoffrey Wachira is the brother to his second wife.

When Wachira got to Blue Post, he found Gitau’s phone, keys and note on the vehicle’s dashboard and has not been seen since then.

With no clue of his whereabouts now shrouded in mystery, Gatanga DCI boss John Kanda says that this has been a hard case.

“This issue remains a major puzzle which we have classified as pending under investigations (PUI),” Kanda said.

Police are looking at two theories; one if that of an execution by his family and save his vast estate from the jaws of auctioneers while the other is voluntary fleeing to escape those who he owes.