A director of a private housing company has been arraigned in court on multiple charges of fraud and money laundering, following investigations by detectives from Starehe Sub-County, in connection with a scheme that defrauded 22 victims of Ksh 28 million.
Bildad Nzuki Wambua, a director of Gladdens Homes Limited, appeared before the Makadara Law Courts where he was formally charged with several counts of Obtaining Money by False Pretences alongside charges of Money Laundering.
The accused is alleged to have operated a systematic scheme between 2024 and 2026, targeting unsuspecting members of the public by falsely representing that they could purchase houses under what was purportedly the Urban Housing Renewable Development LPP project.
Gladdens Homes Limited Director Bildad Nzuki Wambua in court. Photo: Courtesy.
According to investigations, victims were induced into making payments through Gladdens Homes Agency, a privately registered entity associated with the accused.
The victims, who collectively lost millions of shillings, were led to believe they were investing in legitimate housing units, only to discover that the project was non-existent or misrepresented.
In court, the prosecution strongly opposed the accused’s release on bond, citing the gravity of the offences and the substantial amounts involved.
The matter has been set for a bond ruling today, September 3, 2026, with the case scheduled for mention on October 15, 2026.
The Directorate of Criminal Investigations (DCI) has urged any members of the public who may have entered into similar transactions with the accused or Gladdens Homes Agency, and suspect they may have been defrauded, to report to the DCI Starehe Sub-County offices for assistance and guidance.
