A director of property company Gladdens Homes Limited has been charged in connection with an alleged housing fraud scheme in which 22 people reportedly lost a combined Sh28 million.
Bildad Nzuki Wambua was arraigned at the Makadara Law Courts on Wednesday, September 2, 2026, where he faced multiple charges of obtaining money by false pretences and money laundering.
The Directorate of Criminal Investigations (DCI) said on Thursday that the charges followed investigations by detectives from Starehe Sub-County.
According to the investigative agency, Wambua allegedly ran the scheme between 2024 and 2026, targeting members of the public with promises of affordable homes in a purported housing development project.
The properties were allegedly marketed in different designs and sizes and were said to form part of the Urban Housing Renewable Development LPP project on Land Title No. Nairobi/Block A 40/474.
Investigators allege that victims were induced to make payments through Gladdens Homes Agency, a privately registered entity associated with Wambua.
The payments were reportedly made after the victims were given representations concerning the purported housing development.
“The accused is alleged to have operated a systematic scheme between 2024 and 2026, targeting unsuspecting members of the public,” the DCI said in a statement.
The agency said the accused represented to prospective buyers that they could acquire houses on the identified parcel of land under the purported project.
Wambua’s arrest and subsequent arraignment followed investigations into the transactions, with the prosecution opposing his release on bond when he appeared in court.
The court is expected to rule on the bond application on Thursday September 3 and the matter will next come up for mention on October 15, 2026.
The DCI has meanwhile appealed to other members of the public who may have transacted with Wambua or Gladdens Homes Agency under similar circumstances to come forward.
“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,” DCI added.
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