Caption: Dumb shareholders of Housing Finance in a recent AGM where they were indoctrinated that all exposes this community site has ran are a mere concoction and contrusion of facts and that the authors were writing a script for a fictional movie. The Senior Bachelor and Opus Dei Patrick Njoroge has refused to probe the Housing Finance Saga as Frank Ireri, Sam Mwai, and other crooks loot and plunder it to the ground.
When Chase Bank Collapsed, The Opus Dei Was Quick to blame Social media yet social media users never loaned themselves Billions from Chase Bank. Patrick Njoroge is a real fraud that bribes Journalists to hype praises on him and lie to dumb Kenyans that he is a genius yet we all know someone who spends most of his time in the mirror applying make-up can't deliver.
According to Q1 2017 results, the Housing Finance's profits after tax have dropped by a massive 73% from Ksh 327.42 million in Q1 2016 to Ksh 88.34 million in Q1 2017.
The Scandal-ridden Housing Finance has been in the news for all the wrong reasons as a crisis brews with no action from the Central Bank of Kenya after Frank Ireri, who learned the art of corporate fraud from his In-Law Peter Munga bought off the regulator for their silence.
We were also the only platform that exposed how Frank Ireri engineered a 2 Billion IT procurement Scandals but Our Dear Opus Dei Patrick Njoroge was unmoved.
Cooking of books at Housing Finance is the order of the day with CBK being fully aware but nothing being done as the naive governor concentrates in bribing hollow daystar Journalists to lie to Kenyans that he is a gift to Kenyans.
To start with, Why is Frank Ireri still the Housing Finance Boss after all the mountains of evidence that has linked him to fraud, Cooking of books and Multibillion Procurement sagas?
Naive shareholders of Housing Finance are conspicuously not asking any questions because they have been “assured” of stability and dividends by PR campaigns and what they are seeing all over the media is propaganda despite mounting evidence that has exposed fraud.
Isika, in his court filings, had boldly stated that he was fired because he had uncovered a racket engineered by St. Mary’s alumni Frank Ireri, on how books were being cooked and a more than Ksh 4 Billion bad loans saga that has always been hidden.
“The bank has been reporting a non-performing loans figure of Sh5 billion. However, the real position is that non-performing loans are Sh9.3 billion, almost double the published amounts. This information was notified to the managing director (Mr Waweru) and the group managing director (Mr Ireri) via several emails starting from December 2015,” Mr Isika says in correspondences filed in court.
In the court filings, Kevin Isika further claimed that Frank Ireri and his HFC counterpart, Sam Waweru, engineered his sacking after he raised questions about the risk that such huge and hidden bad loans book posed to Housing Finance.
Note: Isika was Illegally Bribed with 72 Million for his silence on advice from Central Bank of Kenya Governor Patrick Njoroge. Caption: The wider Kikuyu establishment who control much of the bank's sector under contention, prevailed upon Njoroge to juggle the position and not compromise the financial interests of many of these financial outfits. Why he never acts on Fraud cases like that of Collapsing Housing Finance Frank Ireri, The Housing Finance Group MD, also signed off an illegal tranche of loans totaling Kshs. 660 Million to companies associated with Peter Munga, who doubles up as the Chairman of Equity Bank. Peter Munga who has been on an investment spree, building hotels and buying companies, has been fraudulently acquiring loans from both Equity Bank and Housing Finance, and trading with other people’s money while posing as a genius investor.
Bad karma may have precipitated the unfortunate suicide of his son at Westland’s Black Diamond club. This bad karma may have been caused by Munga’s history of using his position to screw the poor and using their innocent deposits for his own gain. Caption: Peter Munga is one of the historical thieves that is using Frank Ireri to Loot Housing Finance. He is one of the crooks that prepared a 200 Million bribe to Patrick Njoroge not to probe the Housing Finance Sagas According to our sources, the Housing Finance Auditors were stringent as no one wants to be in trouble. And that is why the chickens have come home to roost.
As the countdown to Housing Finance's collapse starts, the Central Bank Of Kenya Governor should take all the blame since we as social media users did all we could to urge him to probe the scandalous group.
Take a Look at Housing Finance's liquidity ratio - minimum is at 20% and they are at 21%. They are in a precarious position....