A director of a real estate company was on Tuesday arraigned over a Sh6.4 million fraud probe in Nairobi.
Abdiwahab Adan Maalim, the director of Vaad Limited, a Nairobi-based real estate company, was arraigned after spending his Easter holidays in custody.
Police had been looking for him for weeks before he was arrested.
Maalim’s legal troubles began when a complaint was filed at the Directorate of Criminal Investigations Headquarters on December 30, 2024.
The report detailed how Maalim solicited Sh6.4 million from a complainant, claiming he would construct a house as part of Oakside Phase 2 project in Syokimau area of Mavoko Municipality.
Investigators from the Economic and Commercial Crimes Unit launched a thorough investigation and uncovered that Maalim had entered into a contractual agreement with the complainant for the construction of a house.
The agreement dated September 22, 2022, stipulated a total project cost of Sh13 million, which included a Sh3 million upfront deposit and subsequent periodic payments, all expected to be completed within 24 months.
However, as it turned out, seven months after the deposit was made, the complainant had disbursed a total of Sh6.4 million, but Maalim and his company were yet to commence any construction work.
Upon visiting the designated site, detectives confirmed that over a year had passed since the agreed completion date, and neither the foundation nor any construction had begun.
Appearing before the Chief Magistrate’s Court at the Milimani Law Courts, Maalim pleaded not guilty to the charges against him.
He was subsequently released on a bond of Sh1 million and a cash bail of Sh100,000. The case is set for mention on May 12, 2025.
The Directorate of Criminal Investigations said it has received multiple complaints against Maalim and Vaad Limited, all currently under investigation, and urged anyone who may have fallen victim to Maalim’s fraudulent schemes to come forward and file their reports at the DCI Headquarters.
