Raphael Tuju fighting auctioneers for his Karen Property

Summary;
His Dari Investments borrowed ksh 943m using the 20 Acre Entim Sidai estate as a security. Cash was to build twelve ksh 100m townhouses ( pics attached) for ksh 1.2B.
Bank disbursed ksh 932.7m and failed to remit a further 294 million for building the luxury homes for sale.
Because the bank shorted the agreement, Tujus company defaulted on the loan. Loan Balance has ballooned to ksh 1.53B.

https://www.businessdailyafrica.com/news/Court-keeps-auctioneers-in-Tuju-debt-row-at-bay/539546-5406142-y20uhl/index.html

[ATTACH=full]278655[/ATTACH]

[ATTACH=full]278656[/ATTACH]

High Court on Friday blocked East African Development Bank (EADB) from selling a Karen property owned by Jubilee Party Secretary-General Raphael Tuju over a botched Sh1.53 billion ($15.6m) loan deal.

Justice Grace Nzioka also directed that no assets belonging to Dari Limited, should be disposed of, pending the hearing of the dispute next month.
She added that no decision should be taken on the multibillion-shilling property that could derail the outcome of the suit.
The loans were targeted for the construction of Sh100 million two-storey, flat-roofed bungalows sitting on a 20-acre forested land dubbed Entim Sidai and purchase of a 94-year-old bungalow built by a Scottish missionary, Dr Albert Patterson, which currently operates as a high-end restaurant.
But development of the 12 luxury homes worth Sh1.2 billion has fallen behind schedule, setting the stage for defaults and asset seizures.

Mr Tuju, through his lawyer Paul Nyamodi, blamed the bank for the delayed construction of the homes after the lender declined to provide additional millions for building the luxury houses in breach of the loan agreement.
EADB had on December 23 appointed receiver managers —George Weru and Muniu Thoithi— for the Tuju property under Dari Limited to prepare for the sale of its assets to recover the Sh1.53 billion debt.

This prompted the courts on December 24 to block the receiver managers from taking over Dari Limited, and Justice Nzioka reckons she will hear the dispute on the receivership on January 22.
Mr Nyamodi on Friday petitioned the court to extend the orders, barring the two receiver managers, from moving into the property, pending the determination of the case. The order issued December 24 lapsed on Friday.
Justice Nzioka directed the parties to file and exchange documents they wish to rely upon in the case, ahead of the hearing on February 13.
She further directed the parties to appear before her on January 22 to argue the application on whether the receiver managers should be barred from moving in to the property.

Mr Tuju accused EADB of disbursing Sh932.7million instead of the agreed Sh943.9 million, adding that the bank had reneged on the plan to offer Sh294 million for building the luxury homes for sale.
“EADB is fully aware that in the absence of the development of the housing units for sale as envisaged in the project proposal, Dari would not be able to service the loan facility,” he added.

He also accuses EADB of stopping KCB Group from taking over the loan and derailing equity investments in the deal by Dubai investors.
“The defendant is frustrating the plaintiff’s efforts to secure alternative funding thereby clogging the plaintiffs right to redeem the facility,” he added.

A friend of mine hates Tuju a lot. He says that in 1997 Tuju approached him to print campaign posters for him. He was to be paid after elections. After the elections the guy went to get paid and Tuju threatened him “ukirudi hapa tena nitakufunga jela miaka yako yote” and just like that my friend lost thousands of shillings he had spent on that contract. Maybe that curse is taking effect 20+ years later or maybe it started with his wife cheating on him and breaking their marriage, who knows? But Tuju is not a good person, he deserves everything that has happened to him and will happen to him

Hivo si ndio watu wa Moi waliangusha banks zetu juu walikua kwa power, wanakopa hawalipi, thts jubilee for you. Na Tuju anatumia mahakama kuloot 1.5 billion, after ashajengewa nyumba

:rolleyes::rolleyes::rolleyes:

Bonobos and curses.

And that “friend” who told me that story…

Kenyan bank ni zile zile, run by the same good old Kenyans. Waliangalia wakaona hizo nyumba ni poa sana hata kama wewe ni mheshimiwa level gani hizo hukuli solo. Hizo hukuli solo tukiona.

You have not dealt with Kenyan banks. Run by Kenyans. Hungry, jealous Kenyans.

Tuju anakataa kulipa juu io ni EADB. Ajaribu io upuzi kwa NCBA ama Equity aone moto.

Nice houses.kumbe Karen hasn’t yet become infested by gold conmen and tendertrepreneurs as people would like us to believe.

There is no clever jaruo, doesn’t that 930m tosha to finish at least 9houses? Ama Lazima angemaliza Zote at once?

Weka siasa za Ruto kando kidogo for once.

Historically is there any “senior” Kenyan who has ever conned Kenyan banks out of a loan? Who?

Kenyan banks hazitambui yeyote. And they can be vicious, merciless and scheming. SK Macharia for instance tried his best to save his companies but Madhupaper inevitably died. KCB haikutaka kujua yeye ni nani ama hio project ina manufaa gani.

There are many politicians pia wamechotwa. Tuju just built these houses hata labda hajauza hata moja. Kenyan banks will grab your project if you are not careful na sio mara ya kwanza.

A loan has never been a gift.
Dawa yake ni kulipa.

What a pedestrian analysis on the issue. ALL, repeat, ALL Kenyan politicians are crooks cut from the same cloth as Tuju.

Eti the curse taking effect. Kenyans gleefully elect thugs, murderers, thieves etc and expect miracles, shield them under the banner “mtu wetu”. These are the seeds that were sown.

Here the topic is Tuju so I had to add a detail that nobody else knew to reinforce the fact that he is a habitual delinquent.
I think you have inhaled too much diaper fumes that you are a little too aggressive. Go out and some fresh winter air. Yes a foreclosure is a curse.

Who freaking cares about that little “detail” about your friend and how does it help Kenyans at large. Your “friend” apambane na hali yake mama.

Let me now go take that breath of fresh winter air since you’re so familiar with the so called “diaper fumes”.

Hopefully in this new decade you and the rest of the Kenyans with the arrested development that think all Kenyans abroad work in nursing homes can move an inch on that false narrative created in your puny minds. Bure kabisa!

It adds to the evidence of Tujus character of not paying debts. And you cannot tell me what to post and what not to post. Donge?
I can even do a whole thread about Tuju and that incident on campaign posters if I wish to do it.

And you should be the last idiot putting down our dear brethren that work in nursing homes majuu if you can’t even afford a hotel at the coast and have to be hosted by relatives.

You Kenyans are a funny lot. If you were whinning about 20k, a measly 20k, how much would it take you to raise an air ticket to even Europe that costs 100k roundtrip? :smiley:

Not putting you down, but know your place and telling people to go get fresh air from “diaper fumes”. Maajabu. :D:D:D

KRA nets Sh628 billion in half-year collections - News & Politics - Kenya Talk

Diaper change siwezi fanya. There’s something called pride. Having no pride is like being a slave. But an ignoramus wouldn’t know that. An ignoramus will do things that nobody else will do because of lack of self worth.
Ah these things are beyond your depth so keep inhaling those fumes maybe one day you will develop some self esteem and see the world in a different perspective

Sawa Mister 20k. :D:D:D

Mr 20K with high self esteem

You are unbelievable. So you think that it is funny for someone to “whine” about 20K? How much money do you have yourself? Some of the most prominent Ktalk billionaires only come online when they have accumulated enough bonga points to redeem a few bundles. I’m sure half of your wardrobe consists of free jubilee T-shirts and caps na unaringa ati 20K :D:D:D:D