The director of Goldenscape Greenhouse Limited Peter Wangai has been stopped from dealing and transferring 15 parcels of land he obtained from investors at an estimated price of Sh1.5 billion.
The land is located in Marmanet, Laikipia County and Ngong.
Wangai was in March this year charged before a Nairobi Court with obtaining millions from investors by false pretence. The company promised the investors high returns for investing in greenhouses.
On Tuesday, Justice James Wakiaga preserved the said parcels of land and prohibited Wangai, his employees or any other person acting on his behalf from transacting or dealing with the land.
Wakiaga further directed the respective Land registrars to register a caveat against the titles of the each of the 15 parcels of land.
He also issued an order stopping Wangai from transferring or selling 11 motor vehicles registered in his name. Wakiaga at the same time directed the Director General National Tranpsort and Safety Authority (NTSA) to register a caveat against the records of each of the motor vehicles.
The Judge issued the orders after the Assets and Recovery Agency successfully argued that Wangai, and his business entities through pyramids schemes designed as money laundering conduit defrauded the members of the public a total of Sh1,488,483,438.40 between 2014 and 2020. He then acquired massive assets using funds swindled from the unsuspecting members of the public.
The entities are named as-Goldenscape Tree Africa Limited, Goldenscape Greenhouse Limited, Silverstone Properties and Goldenscape Group Limited. Wangai would receive funds from members of the public and later transfer them to bank accounts belonging to his business entities.
The Agency said the funds are believed to be obtained by false pretence from members of the general public.
“There are reasonable grounds to believe that the respondents bank accounts were used as conduits of money laundering in an effort to conceal, disguise the nature, source, and movement of the illegitimately acquired funds and should be preserved,” said ARA.
