An elderly couple has petitioned the Directorate of Criminal Investigations (DCI) and the Office of the Director of Public Prosecutions (ODPP) to investigate an alleged fraudulent auction of their properties, raising questions over the bidding process, valuation and subsequent transfer of the assets.
The couple, who trade through Kimani Operation Limited and Kimani Ventures Limited, want investigators to scrutinize the conduct of Absa Bank and several firms involved in the disputed auction process.
They have named Fancy Friend Auctioneers, Astralis Verge Limited, Samatar Solution Limited and PM Gachie T/A Auctioneers among the parties they want investigated.
In their complaint, the couple alleges that “no lawful auction took place” on the day the properties were said to have been sold.
They argue that access to the properties that had been listed as security was not restricted in a manner consistent with an auction process and have questioned how the exercise was conducted.
The couple has also cited the Saba Saba demonstrations in Nairobi on the day of the alleged auction, saying movement across parts of the capital was restricted.
They argue that the circumstances raise questions over whether prospective bidders were able to access the properties and participate freely in the auction.
The petition also asks investigators to establish whether bidders were physically present and whether genuine competitive bidding took place before the properties changed hands.
According to the couple, the bank and auctioneers have also failed to provide what they consider satisfactory information identifying the people who allegedly attended and participated in the auction.
They want investigators to establish the identities of the bidders, how their bids were submitted and the process through which the eventual buyers were selected.
The couple has further alleged that the properties were substantially undervalued before the auction.
They claim there may have been collusion involving one of the alleged proxies who later acquired the properties, an allegation they now want the DCI to investigate.
The petitioners are asking detectives to examine the valuation reports used during the sale and determine whether the prices reflected the market value of the properties at the time.
Despite their challenge to the auctions and the subsequent takeover of the properties, the couple says Absa Bank continues to demand approximately Sh394.8 million as an outstanding balance.
They now want the DCI to conduct what they describe as a comprehensive criminal investigation covering the auction process, property valuations, identities of bidders and the eventual transfer or takeover of the assets
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