This archive report was first published on 13 August 2019.
On August 13, 2019, billionaire businessman Humphrey Kariuki stepped down as chairman of his Janus Continental Group (JCG) amidst a Ksh.41 billion tax evasion case.
According to a statement from Hellen Akello, Chief Human Resources Officer, Kariuki made the decision to voluntarily step down as chair of the board, citing the need to focus on challenging the baseless claims in court.
Janus Continental Group, an international conglomerate with operations in eight countries, has appointed Managing Director Margaret Mbaka to take over Kariuki's role in an acting capacity, assisted by CEO Rikin Shah.
The company, which comprises market-leading companies in the Energy, Hospitality, and Real Estate sectors, has nine top brands and employs over 2000 employees.
Despite the court giving a nod to detectives to seize his property, sources say only two vehicles and an aircraft in Laikipia County have been seized so far.
14 people, including directors of 31 firms linked to Kariuki, are also under investigation.
Three accused persons in the case pleaded not guilty to over 20 counts pressed against them, including failure to pay tax contrary to the laws of Kenya.
