Man Charged Over Alleged Sh28mn Housing Fraud Targeting 22 Victims
Bildad Wambua was arraigned at the Makadara Law Courts on Wednesday, September 2, where he faced multiple counts of obtaining money by false pretences contrary to Section 313 of the Penal Code and money laundering.
A director of Gladdens Homes Limited, Bildad Wambua, has been charged with defrauding 22 individuals of KSh28 million in a housing scheme, according to detectives investigating the case. The director faced multiple counts of obtaining money by false pretences and money laundering at Makadara Law Courts on Wednesday, September 2.
Detectives from Starehe Sub-County claim Wambua falsely advertised houses in Nairobi, promising buyers various designs and sizes through the Urban Housing Renewable Development LPP project. The DCI alleges that victims paid through Gladdens Homes Agency, a private entity controlled by Wambua, resulting in losses of KSh28 million in total.
The prosecution requested that Wambua be held without bond, with a ruling expected on Thursday, September 3. The investigation remains ongoing, and the case will return to court for further proceedings on October 15, 2026. The DCI encourages potential victims of similar fraud to report to the Starehe Sub-County DCI office, urging Kenyans to verify property deals thoroughly and report suspected fraud to law enforcement authorities.
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