BY SAM ALFAN.
Televangelist and founder of Ekeza Sacco David Kariuki Ngare alias Gakuyo will remain in custody until Monday as police complete investigations into an alleged scam where investors lost over Sh1 billion.
Milimani Senior Resident Magistrate Geoffrey Onsarigo allowed the police to detain the founder of Ekeza Sacco for one day so that they can complete the probe into the scam.
The investigators had asked for four days saying it was sufficient to allow them finish the probe but it was opposed by the defence lawyers.
Gakuyo through his lawyer Ndegwa Njiru vehemently opposed the application by the state to continue holding him further, saying he is not a flight risk and will abide by all conditions set by the court.
The Directorate of Criminal Investigations said they are investigating claims of conspiracy to commit felony and obtaining money by false pretense, stealing and money laundering involving Sh1 billion allegedly stolen by companies associated with him.
The court heard that Gakuyo is alleged to have stolen over Ksh1 billion from members of Ekeza Sacco Limited, Gakuyo Real Estate, Credit Co-operative Society and Gakuyo Investment Club in a fake real estate scheme.
According to detectives, investigations into the matter are complex as the complainants who fell victim to Gakuyo’s fraudulent investment schemes are over 50,000.
The court was informed that there was a high likelihood that the suspect will face over 50,000 charges in different parts of the country.
The DCI said Gakuyo was likely to interfere with the investigations by contacting the witnesses and concealing the material documents.
The court directed the prosecution to bring the charges against Gakuyo on Monday.
