Former presidential Cyrus Jirongo will remain in police custody until Thursday 1 pm when he is expected to have raised the Sh5 million cash bail to secure his freedom.
This after the politician was arrested and arraigned in court for failing to pay businessman Brian Yongo a debt of Sh 20 million he had lend him in 2014.
When the parties appeared before High Court Deputy Registrar Elizabeth Tanui, the court heard that Jirongo’s failure to pay the debt prompted Yongo to apply for warrants of arrest and the same was issued on 6th August 2018.
The DR directed that failure to deposit the Sh 5 million bail, Shakhalanga Khwa Jirongo who will spend the night at Muthangari Police Station, will be transferred to remand.
Jirongo, a one time billionaire was declared bankrupt by a court in October 2017 is said to have promised to pay the monies after selling his 500 acres land Nairobi and another 5 acres in Kisumu but failed to honor his words.
In 2015, Yongo and the politician had agreed that the amount will be settled in three installments. Sh 5 million in October 2015, followed by another 5 million and the final installment within 60 days.
The former Lugari MP was declared bankrupt after Justice Olga Sewe found he was unable to pay a debt of Sh 700 million owed to businessman Sammy Kogo who, maybe for moral support was with Jirongo when produced in court by police.
Kogo is alleged to have allowed the politician secure a loan from National Bank using his properties as security but failed to pay; leading to the properties being auctioned by the bank in 2009.
Central Organisation of Trade Unions (COTU) Secretary-General Francis Atwoli has also sued Jirongo for failing to pay him Sh110 million.
In an agreement entered on 10th August 2017 where he advanced Sh100 million to him, the money was to be paid in 50 days with an interest of Sh10 million. But Jirongo has since failed to honor the agreement.
This man Jirongo, what happened to the billions?