How Chinese Firm TISCO Construction Limited Was Fined Ksh 723,633.49 by Court for Defrauding Its Accountant

A multimillion Chinese firm, TISCO Construction Limited, suffered a significant blow last year after losing a case against its former accountant, Cyrus Ngari.

The case, which culminated in a court ruling on April 14, 2023, stemmed from allegations of non-payment for consultancy services rendered by Ngari.

Background of the Case

Cyrus  Ngari, operating under S.N. Njue Consultants, provided consultancy services to TISCO Construction Limited.

Despite his numerous attempts to recover the Ksh 535,000 owed for his work, TISCO Construction Limited failed to make any payment.

This prompted Ngari to file Civil Suit No. 1618 of 2018 at milimani commercial court, seeking justice and compensation for his services.

Court’s Judgment

After a thorough examination of the evidence presented, Hon. B. Cheloti, Principal Magistrate, ruled in favor of the plaintiff.

The court ordered TISCO Construction Limited to pay the following amounts:

• Principal Amount: Ksh 535,000
• Interest (12% p.a. from 14/04/2023 to 05/05/2023): Ksh 3,869.59
• Additional Costs: Ksh 180,505.00

This initial total amounted to Ksh 719,374.59. However, due to the continued non-payment by TISCO Construction Limited, additional interest and costs accrued, bringing the final total to Ksh 723,633.49.

Enforcement of the Judgment

To ensure the enforcement of the judgment, the court issued a decree on May 12, 2023, instructing the attachment of TISCO Construction Limited’s movable property. The decree specified the following steps:

1. Attachment of Property: The movable property belonging to TISCO Construction Limited, as listed in the annexed schedule or as identified by the decree holder, would be seized.
2. Holding of Property: The seized property would be held until TISCO Construction Limited paid the full amount of Ksh 723,633.49, including the costs associated with the attachment.

Resolution

According to documents obtained from court record confirmed that the case was closed after TISCO Construction Limited paid plaintiff full amount awarded by the court.