County Capital Ltd’s Directors Charged Again for Sh100 Million Fraud

County Capital Ltd’s two directors, Benson Kariuki Ireri and Caroline Muambie Kibaru, have been charged again for a Sh100 million fraud case.

They appeared before Milimani Chief Magistrate Susan Shutubi and denied the allegations.

The directors and their company are accused of fraudulently obtaining money from different individuals, including Zipporah Waithira Mungai, John Musyoka, Boniface Nzinga, and Shadrack Musyoka, by falsely claiming that they would invest it on their behalf.

The offences were allegedly committed at Waterssys Plaza in Nairobi on various dates between January 1, 2015, and September 1, 2018.

Ireri, Muambie and the firm are accused of obtaining Sh61.5 million from Zipporah Waithira Mungai by falsely pretending that they invest the money on her behalf.

Benson Kariuki Ireri and Caroline Muambie Kibaru of County Capital ltd before court./PHOTO BY S.A.N.

The court heard that they committed the offence on diverse dates between January 1, 2015 and September 1, 2018 at Waterssys Plaza in Nairobi, being directors of County Capital Limited with intent to defraud.

The two and the company are also accused of conspiring to defraud John Musyoka of Sh19.7 million by falsely pretending that they could invest in a collective investment scheme on his behalf.

The charge sheet stated that they committed the offence on diverse dates between March 31, and 22 June 2017 at Waterssys Plaza in Nairobi.

They are also accused of defrauding Boniface Nzinga of Sh15.5 million, between January 1, 2015 and 1 September 2018.

In addition, the prosecution has charged them with carrying out business as a collective investment scheme without a valid license issued by the Capital Markets Authority or Central Bank of Kenya.

The accused are currently out on bail.