Former Kiambu governor Ferdinand Waititu has lost the Ksh52 million he paid as deposit in acquiring a property in Nairobi’s CBD.
This is after the court allowed General Properties limited to keep the money since Waititu had breached the contract in the purchase of the Solar House building along Agha Khan walk.
The two parties had agreed that the buyer was to clear a balance of Kshs468 million within a period of 90 days but he failed to do so after two banks declined to give him a loan.
Waititu was making transactions through Saika Two Estate Developers where he is a director, however EACC began investigating the firm over corruption allegations.
According to EACC, Waititu used the firm to receive kickbacks during his tenure as Kiambu governor.
The Solar house owner sued Waititu while requesting the court to allow him keep the deposit.
Judge Jacqueline Mogeni also lifted the restriction that placed by Saika that prevented any transactions involving the building
“A person who lodges caution over any property is one who claims right whether contractual or otherwise. Saika has not raised any objection on why the caveat should be removed. The court finds that there is no basis for continuing to have the caveat lodged against the said title,” she said.
Waititu defended himself saying that he was unable to secure a loan due to the building’s false rental income.
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