Friday, March 29, 2024

Late billionaire Nginyo Kariuki kids’ bitter fight over Sh. 4 billion estate

Nginyo Kariuki Wealth: Children of the late billionaire Lawrence Nginyo Kariuki are rocked in a bitter fight over the control of a Sh. 4 billion estate left behind by their father.

The fight has seen James Anthony Kariuki and his sister Jane Wambui head to court over the control of bank accounts, rent and homes. A report that appeared in a local daily says that Wambui has opposed a bid by her brother to manage the accounts until the case is determined.

On the other end, is petitioning the court to have all rent proceeds from properties belonging to his late dad deposited directly to Nginyo’s bank accounts. He has argued that they belong to the estate. In court filings, kariuki has cited properties, about which he says rent is not paid or if there is payment, the money goes to unauthorized.

However, this claim has been disputed by Ms. Wambui.  “There is no property registered in the name of Lawrence Nginyo Kariuki where rent is not being paid,” she argues. She has also asked the court to have her brother account for the house he occupies and monies allegedly loaned to him by their later father.

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“The senior Kariuki died on February 24 last year, leaving behind a contested Will, a widow (Margaret Wangari Nginyo) and nine children, including three from two other women. The battle between James and Ms Wambui has exposed little secrets in the family, including gifts and home responsibilities that the tycoon shouldered on behalf of his adult children such as fees and salaries payment. The latest rift in the succession battle erupted in Margaret’s household that had previously put up a united front against the claims resulting from the children born out of wedlock – Brenda Nyambura Kiragu, Alex Ndoria Karuri and Austine Wachira Karungo,” a report that appeared in the Business Daily on Friday said.

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