Introduction
In February 2019, Elizabeth Gatwiri, an 86-year-old from Kirinyaga County, experienced a devastating blow. The Sh120,000 she had saved from a dowry payment had disappeared overnight due to the collapse of Gakuyo Real Estate. Her tragic story is just one among thousands of victims who were promised a bright future, only to be left in financial ruin. Let's delve deeper into this heartbreaking situation and explore why these victims are still waiting for a way out.
A Deceptive Promise
Gatwiri, a widow whose husband lost his life in the 1982 coup attempt, had received Sh150,000 as dowry for her daughter. Hoping to secure her grandson's future, who is an orphan, she decided to invest in land through Gakuyo Real Estate. The company's chairman, Reverend David Ngari, appeared trustworthy, having been seen on television performing religious miracles. Convinced by his promises, Gatwiri entrusted Sh120,000 to Gakuyo Real Estate in 2014.
The Unraveling of a Scam
Unfortunately, Gatwiri soon discovered the truth behind Gakuyo Real Estate's collapse. An audit report revealed that Ngari had allegedly embezzled over Sh1 billion belonging to 78,000 members, many of whom were vulnerable individuals. The money meant for acquiring land, homes, and other assets had been misappropriated for personal gain. The damning report exposed Ngari's extravagant purchases, including a Sh200 million house and prime properties.
Broken Promises by the Government
In response to the crisis, Interior Cabinet Secretary Fred Matiang'i promised the victims that they would not lose their hard-earned money. However, a year has passed, and Matiang'i's words remain empty. While Ngari obtained court orders protecting him from arrest and prosecution, the government's efforts seem to have fizzled out. Despite summoning the victims to gather evidence, no further action has been taken to bring justice to those affected.
The Long Road to Redemption
Ngari, now under strict government monitoring, claims to have a plan for refunding the victims. He speaks of issuing credits worth Sh1.5 billion, which he expects to recover through loan repayments. In an ironic twist, the audit report reveals that Ngari is the primary recipient of these loans. He plans to sell off his assets in five phases to raise funds for the refunds. However, doubts linger as to whether these promises will ever become a reality.
The Fight for Justice
In the face of uncertainty, a group known as Gakuyo Victims, led by Mark Muriithi, has formed to advocate for the rights of the victims. Many of these individuals are young, middle-income earners who sacrificed to save their money, only to fall prey to this despicable scheme. They refuse to let Ngari and the government walk away without consequences and are determined to reclaim what is rightfully theirs.
As the victims of Gakuyo Real Estate continue to wait for a way out, it is a stark reminder of the perils lurking within the real estate industry. The lack of government intervention and the exploitation of vulnerable individuals cast a dark shadow on the promises made by companies like Gakuyo. Let us hope that justice will prevail, and those affected will finally find solace in the resolution of their ordeal.
