Thursday, July 25, 2024

Okoth Obado strikes Sh. 235mn EACC auction deal to end his Sh. 1.9bn case

Former Governor Okoth Obado’s properties and vehicles worth an estimated Sh. 235 million are set to be auctioned.

The properties will be auctioned off to the general public by the Ethics and Anti-Corruption Commission (EACC) following a deal with Obado in which the former Governor of Migori surrendered the properties.

According to the EACC, Obado and the commission had agreed to settle a Sh. 1.9 billion forfeiture case against Obado, his three children, companies, and an allied businessman who was identified as Jared Peter Oluoch Kwaga.

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The consent in which the EACC and Obado agreed to the sale has already been filed before Justice Esther Maina.

“I have instruction from the commission (EACC) that the parties herein have entered into a settlement agreement date on June 5, 2024. We urge the court to admit the settlement consent as the order of the court,” Jackie Kibogy, acting on behalf of the EACC, told the court. The request was accepted by the court.

“The settlement agreement in this case is justified as all assets related to this case have been confiscated according to the agreement. The defendants have offered to surrender and the commission has accepted to receive eight properties and two motor vehicles all worth at Sh. 235,600,000 to be disposed of by way of public auction in full and final settlement of the two claims,” stated Justice Maina, adding that freeze orders on the accounts of Obado and his co-accused persons had been lifted.

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The properties that are set to be auctioned include a Loresho Ridge House with a market value of Sh. 40 million, a commercial block known as the Sunrise Centre in Suna East that is worth Sh. 88 million, 5-storey residential blocks each with a total of 20  two-bedroom units with a market value of Sh. 57.6 million and two apartments in Greenspan worth Sh. 9 million each.

A residential property in Kamagambo worth Sh. 10 million, a developed two single-storey residential blocks with eight one-bedroom units worth Sh. 7.5 million, maisonette in  Nairobi worth Sh. 14.5 million, and two high-end vehicles.

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