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Kenyans in US sue bank over estate

Posted by Administrator on March 13, 2012

A group of 17 Kenyans in the United States has sued the Kenya Commercial Bank for allegedly reneging on an agreement to construct multi-million shilling houses inAthiRiverin 2007.

In an affidavit filed by one of them Joseph Mbugua Kimani, the group states that in 2007 through the bank they acquired land measuring 2.028 hectares in Athi River for the housing project.

In the agreement the bank undertook to have houses constructed on the sub-divided land for each of the plaintiffs under an agreed mortgage arrangement.

They say the construction of the houses was to be done within 12 months and KCB was to supervise the construction.

No house

They however claim that since 2007 not a single house has been constructed.

They state that the land where the houses were to be constructed was sold to them by Kwa Ndege Limited who are named as the first defendant in the suit.

Kimani stated that the bank is holding titles for all the plaintiffs and has charged them but has not done anything to implement the agreement

They want the Court to compel the defendants to commence construction of the residential house as a matter of urgency as agreed in 2007.

The plaintiffs have accused the bank of wasting the trust placed on it by them.

Justice George Dulu certified the application as urgent and directed it be heard interparties on March 26.

Source: The Standard


2 Responses to “Kenyans in US sue bank over estate”

  1. peris said

    this is very unfair.the way we sweat tukitafuta hizi doo alafu zichezewe.these kenyans walinyinyima ndio wa invest now see vile kcb imewavunja mikono.kcb how can u expect us to trust u with our money.we are watching.

  2. wanjiku (Mama Njoki) said

    This behavior is so common in Kenya even with other financial institutions, na victims ni jamma wa diaspora. Aibu zaidi ni pale mpaka relatives wana participate ku con majamaa walioko nje, especially USA…so bad and unfair!

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