Former Kiambu Governor William Kabogo has been sucked into Ksh4.5 billion bribery case with investors of Tatu City in Kiambu County.
Kabogo has been accused of hoarding five title deeds as part of a plan to blackmail them into giving up a five per cent stake in the mega real estate project.
In the case, reports Business Daily, the majority shareholder Stephen Jennings says that Kabogo has employed an elaborate plan to trick the court into giving him the five per cent stake in Tatu City from the proceeds of the project.
Jennings implores the High Court that Kabogo is not the registered owner of Gilulu Investments and Acres and Homes – the two firms Mr Kabogo claims to have used in the dealings with Tatu City.
He maintains that if the ex-Kiambu Governor is the beneficial owner of the two firms, then he must be investigated for laundering funds illegally acquired from Kiambu County.
Kabogo has filed two suits against Tatu City claiming to have been given title deeds to 128 acres worth at least Sh4.5 billion, after agreeing to buy another 100 acres from the real estate firm.
In court filings, Kabogo says he met Jennings at Lord Errol in Runda where he agreed to a 5% stake in Tatu City measured on his political standing, business acumen and financial muscle. He further adds that the agreement was that Jennings would foot all the initial costs of his onboarding.
However, he paid Sh348 million to Rendeavour Services, a Tatu City shareholder associated with Mr Jennings, as a 10 per cent deposit for the 100 acres within the real estate project.
The remaining balance of 3.7 billion was to be paid in 12 months after the first 100 acres of Tatu City acreage were transferred to Kabogo in 2016.
Jennings, however, argues that Kabogo entered into a sale agreement with Fundamental Property Limited, which he insists is a separate legal entity from Tatu City and other sister firms.
Jennings holds that Kabogo did not complete the payments within 12 months which is why his 10 % deposit was refunded.
Kabogo is currently holding titles to 105 acres of land which he says were given by Tatu City ownership.
Tatu City through its sister company Oakland had written to Kabogo asking that he returns the title deeds.
