The Director of Vaad limited has been charged with Sh.6.4 million fraud in a house fake deal.
Abdiwahab Adan Maalim and his company Vaad limited appeared before Milimani principal magistrate Geofrey Onsarigo and denied the charges.
Prosecution told the court that on diverse dates between 2 September 2022 and 26th April 2023 at Vaad Ltd’s offices at Nexgen Mall, Nairobi City within Nairobi County with intent to defraud Abdiwahab obtained Sh. 6.4 million .
He defrauded money from Hassan Dahiya Bardad by falsely pretending that he would develop a house for Dahiya a fact he knew to be false.
He was released on a bond of Sh1 million pending hearing and determination of his fraud case.
He was charged after investigations were complete.
According to DCI, Maalim’s legal troubles began when a complaint was filed at the Directorate of Criminal Investigations Headquarters on December 30, 2024. The report detailed how Maalim solicited Sh6.4 million from a complainant, claiming he would construct a house as part of Oakside Phase 2 project in Syokimau area of Mavoko Municipality.
Investigators from the Economic and Commercial Crimes Unit launched a thorough investigation and uncovered that Maalim had entered into a contractual agreement with the complainant for the construction of a house.
It was revealed that agreement dated September 22, 2022 stipulated a total project cost of Sh13 million, which included a Sh3 million upfront deposit and subsequent periodic payments, all expected to be completed within 24 months.
However, as it turned out, seven months after the deposit was made, the complainant had disbursed a total of Sh6.4 million, but Maalim and his company were yet to commence any construction work.
DCI further revealed that upon visiting the designated site, detectives confirmed that over a year had passed since the agreed completion date, and neither the foundation nor any construction had begun.
