Kenya: Man Charged Over Alleged Sh28mn Housing Fraud Targeting 22 Victims

What the report says

A Nairobi court has charged a director of Gladdens Homes Limited, Bildad Wambua, in connection with an alleged property scam that investigators say affected 22 people and involved about KSh28 million. The report says he was arraigned at Makadara Law Courts on September 2 and faces counts including obtaining money by false pretences and money laundering.

According to the Directorate of Criminal Investigations, the alleged scheme ran from 2024 to 2026 and targeted people looking to buy homes in Nairobi. Investigators say prospective buyers were told they could purchase houses of different designs and sizes on land identified as Nairobi/Block A 40/474, which was presented as part of a project described as Urban Housing Renewable Development LPP.

The article says payments were made through Gladdens Homes Agency, a privately registered entity linked to Wambua, after buyers were allegedly persuaded by the development claims. Prosecutors opposed his release on bond, with the court expected to rule on that question on September 3, and the case set for mention on October 15, 2026. The DCI has also asked anyone with similar complaints to come forward. As a general matter, property fraud cases often hinge on whether promised developments and land ownership claims can be verified, but the allegations in this case have not been proven in court.