Amos Kimunya sold Grand Regency to the Libyans in 2008. He got a lot of kickbacks from the illegal sale
Foreigners-filled Laico Regency hotel has always been in the news for all the wrong reasons.
The hotel formerly known as Grand Regency has its origins from one of the heists of our times, the Goldenberg Scandal. It exchanged its ownership to Libyans in 2008 after then Finance Minister and current Leader of Majority in Parliament Amos Kimunya sold it for a pittance. Laico Regency was developed by Uhuru Highway Devt (at $100Mn), and acquired by Goldenberg beneficiaries
The COVID-19 pandemic has come with its fair share of pain, from layoffs, salary cuts and company's shutting down. However, for Laico Regency, the case is a bit different. Staff complain of being overworked.
"Laico owes us money from 2017, they have sent some of the staff home, indefinitely", a staff member who spoke to nyakundireport.com said.
The source says that the Hotel has not been remitting statutory deductions to the relevant bodies. The stress at work is also unbearable as one of the staff members collapsed and died at work due to high stress and complications from High blood pressure.