Televangelist David Kariuki Ngari alias Gakuyo has been charged with conspiring to defraud members of the public of over Sh1 billion on the pretext that he was able to invest in real estate and the money market.
Mr Ngari, who is the founder of Ekeza Sacco, was arraigned Monday before Milimani Senior Resident Magistrate Benmark Ekhubi.
He was arrested at JKIA on Wednesday, February 21, 2024, just before he was to fly to Lusaka, Zambia.
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He denied 12 counts of conspiracy to defraud and obtain money through pretenses and was released on a cash bail of Sh10 million. He was also ordered to surrender his passport to the court.
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DCI detectives told the court that over Sh1 billion was stolen by the bishop and companies linked to him from over 50,000 victims, who were defrauded in the scheme that has been under investigation since March 2019.
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Indications are that further charges may be laid against the accused as investigations continue.
Mr Gikandi of the DCI’s Financial Investigations Unit said the investigation is at an advanced stage and the defendant (Gakuyo) is likely to be charged in several cases involving more than 50,000 victims.
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The senior resident magistrate also allowed Mr Kinyanjui to summon Ekeza Sacco officials to answer to charges on behalf of the co-operative.
