Jacaranda Hotel and Njenga Karume Trustees Are Shaken After Cyprian Nyakundi’s Exposés

We have run two articles documenting the looting of the late former Cabinet Minister Njenga Karume’s estate by the Trustees that he appointed before his death. The Trustees, some of who are his relatives, i.e. sons and wife, are philandering the billions that the billionaire businessman left, excluding others who are also rightful owners to the billions. Of course, we have been keen to remind Kenyans that Njenga Karume made his billions thanks to government crony capitalism. After we highlighted how one, Ms. Mary M’Mukindia who is listed as a non-executive director of GT Bank (alias Guaranty Trust Bank Ltd), how it appears she swindled the the Njenga Karume businesses through a loan advance and the case of IT Manager Gregory Odhiambo, hacking accounts to steal money, the management panicked and called a sudden meeting to try to identity the source fo the leak. The story goes that Mary M’Mukindia, being a close confidant and friend of Njinga Karume, Mary sat at the board of Jacaranda Hotels Chain and was instrumental in arranging a loan for the hotel chain from GT Bank. The loan was Ksh257 million. She immediately thereafter resigned and went got a job at the board of GT Bank limited, which is now threatening to auction the Jacaranda Hotel over non-payment of the same loan she helped arrange. How convenient? The loan of over 257 million went on to finance the renovation/construction of another franchise of Njenga Karume, the Node Restaurant in Westlands, Nairobi. Only Ksh17 million was used. Where did the rest of the money go? Ms. Mary M’Mukindia used her position of being a close confidant of Njenga Karume to fleece his family in his death. The IT Manager of Jacaranda Hotels, Gregory Odhiambo is alleged to be continuing in his fackade of hacking accounts and stealing money for the Trustees, His counterpart the Jacaranda Hotel Chain CEO Charles Kimani is alleged to have stolen enough to afford buying prime plots in Kiambu and driving two state of the art vehicles. The CEO is said to have bought a prime land in Kiambu, a Mitsubishi, a Volkswagen Touareg and a 6-block apartments in Eastlands, Nairobi. The trustees are also philandering looters, they’ve assigned Ksh100k per sitting for the Chairman and Ksh75k for the members of the trustees in any meeting. The Other Scam The Njenga Karume Trustees is full of crooks. Njenga Karume had a 633 acres tea farm and a factory known as Ngorongo. The managers of the tea estate, in order to hide profits, sell tea to competitors, the Kanari Tea Factory. More Property Row: Mary M’Mukindia’s Evil Hand In Njenga Karume’s Business Empire Collapse Gregory Odhiambo: The IT Manager Who Hacks Bank Accounts To Steal Money For Njenga Karume Trustees