A lecturer charged with Sh 55 million fraud in Mara Ndovu Lodge Limited shares scam has been released on bond.
Senior Principal Magistrate Robinson Ondieki granted George Maina Muriithi on a bond of Sh 2 million plus two contact persons.
Muriithi is facing charges of obtaining money by false pretenses, acquisition and use of proceeds of crime.
The lecturer is accused of obtaining Sh 55.5 million from Martin Gitonga Kamandu by falsely pretending that he was in a position to sell to him 48,800 ordinary shares from Mara Ndovu Lodge Ltd, a fact he knew to be false.
He is alleged to have committed the offense on the diverse dates between 15th November, 2022 and 1st January 2024 in Nairobi County, jointly with others not before court, with intent to defraud.
In another count, the accused person is charged with acquiring the said money from Otieno & Ambrose Advocates account, the property of Kamandu whilst at the time of the said acquisition Muriithi knew or had reason to believe that the money formed part or was proceeds of crime to wit money acquired fraudulently.
Lastly, Muriithi is accused of using the Sh 55.5 million to purchase properties reasonably knowing that the money is or forms part of the proceeds of crime, fraudulently acquired from Kamandu.
The case will be mentioned on 24th July 2025 for pre-trial directions.
