Gladdens Homes director arraigned in Sh28 million housing fraud scheme
A director with Gladdens Homes Limited, was arraigned before the Makadara Law Courts where he was formally charged with multiple counts of obtaining money by false pretences contrary to Section 313 of the Penal Code and money laundering.
This followed investigations by detectives based in Starehe Sub-County.
Bildad Nzuki Wambua is alleged to have fraudulently obtained a total of Sh28 million from 22 victims. He was arraigned September 2, 2026.
The accused is alleged to have operated a systematic scheme between 2024 and 2026, targeting unsuspecting members of the public by representing to them that they would purchase houses of varying designs and sizes on Land Title No. Nairobi/Block A 40/474, purportedly under the Urban Housing Renewable Development LPP project.
The victims of this scheme are reported to have made payments through Gladdens Homes Agency, a privately registered entity associated with the accused, after being induced by representations concerning the purported housing project.
The prosecution opposed the accused’s release on bond, and the matter has been set for a bond ruling today, September 3, 2026, with the case scheduled for mention on October 15, 2026.
Members of the public who may have entered into similar transactions with the accused or Gladdens Homes Agency, and believe they may have been defrauded, are urged to report to the DCI Starehe Sub-County offices for assistance and guidance, the DCI said.
The DCI continues to urge members of the public to exercise due diligence before making financial commitments in property transactions and to promptly report suspected cases of fraud to law enforcement agencies.
Many Kenyans have complained of being defrauded in such schemes and police say investigations are ongoing into the same.
Meanwhile, two directors of Flexitech Group Limited were arrested in connection with the alleged theft of Sh31.2 million belonging to a leading retail chain.
The suspects, Martin Kariuki Maina and Johnson Gituma Mwangi, were arrested by detectives from the DCI Nairobi Regional Office in the Roysambu area, following investigations into a complaint lodged by the retailer.
According to the complaint, the suspects, who are directors of Flexitech Group Limited and agents of the complainant, allegedly received Sh31,213,700.95 from customers who had purchased and collected goods from various branches.
The funds had been entrusted to the suspects for onward remittance to the retailer.
However, detectives established that the two, acting jointly with other suspects still at large, allegedly diverted the funds for their own use, in breach of the trust placed in them as agents.
They were expected to face charges of stealing by agent, contrary to Section 283(b) of the Penal Code.
The investigations remain ongoing, with detectives pursuing other individuals believed to be linked to the multimillion-shilling theft.