Gakuyo Refunds: Controversial preacher and the founder of Ekeza Sacco David Kariuki Ngare alias Gakuyo has come out to speak on the tribulations he has been facing since the collapse of his real estate business.
Gakuyo says that paying off investor refunds has hit his health and made him grow thin. While speaking during the funeral service for five children who died after falling into a septic tank in Ruiru, Kiambu County, Gakuyo said that he had put his welfare on the line to protect his name.
“I have never even sired a child outside my marriage, leave alone stealing a coin from investors. I have grown thinner because of giving out all I had to try and protect my reputation,” Gakuyo said.
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The preacher went on to accuse some leaders who he said played a part in destroying his business. “There are several people in Kenya who are hell-bent on destroying other people’s businesses. I want to vividly confront William Kabogo and Gatundu South MP Moses Kuria. They are citizens who are not mindful of Kenya’s economy. Your business is to kill other people’s businesses,” Gakuyo said.
An audit report showed how David Ngari moved investors’ money from Ekeza Sacco to a personal account that only he and his wife could access. He transferred the money in order to fund his lifestyle. He then used it to purchase numerous personal properties
Ngari reportedly transferred the money between 2015 and 2017. The audit report was prepared by a team appointed by Commissioner for Cooperatives Mary Mungai last December. The report showed that Ngari transferred Sh. 88 million in 2015, Sh. 850 million in 2016 and Sh. 625 million in 2017. Of the Sh. 1.5 billion, Sh. 507 million was loaned to some Ekeza Sacco members who wanted to own homes under Chosen Green City, a housing project in Kabati, Murang’a County. The project was being undertaken by the sacco’s sister company, Gakuyo Real Estate.
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