Oct 21, 2021

Mawazo Writing Africa

Writing about the main

Judge orders Ponzi-like currency scheme investigated

Justice James Makau ordered the investigation to focus on how veteran attorney Jane Nyaboke Njagi 867,000 Shr. has lost through the fraud.

Mr Mwendwa allegedly borrowed $ 2.2 million and invested in the online business on behalf of Ms. Nyagi to convert 1,283 digital Coins to buy.

Mr. Mwendwa has been calling for the debt since 2018 and is leading to the arrest of the lawyer in what Judge Makau called “a clear abuse of power due to Mwendwa’s association with the ruling class Powers “.

Ms. Njagi was betrayed sometime in August 2018. In court files, she says Mr. Mwendwa approached her and introduced her to One Coin One Life.

He told her the company was lucrative and that he had invested Sh900,000 and made a profit of Sh47 million in a short period of time.

Huge profits

She was also told that prominent figures, including members of parliament orderly and cabinet secretary, had invested in the business and made huge profits.

She was also informed that the business would go public in October 2018 and she could do one Become a lifelong member if she invested.

Mr. Mwendwa told her that he was a shareholder in One Coin One Life and was entitled to a commission of 10 percent of the investments each Member he recruited for the business.

He said he had an account with One Coin One Life that sold 500 coins. She expressed interest and said she was ready to open an account and get the digital coins for 770,000 Shr. to buy.

He took her to the One Coin One Life offices in Norwich House on Moi Avenue in Nairobi and she was put through cryptocurrency training.

< p class = "align - justify"> In the offices Ms. Njagi met Mr. Gatobu, who introduced himself as CEO of the company.

Mr. Gatobu explained how the business worked and informed Ms. Njagi that by October 8, 2018, she would have a profit of about Sh 1.6 million. p>

She has on behalf of Stephlinks Holdings Ltd. Sh777,000 paid into an account at the Meru branch of KCB Bank.

She paid another 90,000 shredders as fees for opening and operating an account at One Coin One Life a. Mr. Gatobu confirmed that he had received the money, but did not issue an official receipt despite numerous requests.

A week later, Mr. Mwendwa called and informed her that he had Sh2.2. borrowed millions from his wife and invested them in the business on behalf of Ms. Nyagi.

Refund Requested

Mr. Mwendwa thereupon demanded repayment because of the alleged investment.

Ms. Njagi informed Mr. Mwendwa that she was not aware of the debt because she had not instructed him to borrowing the money, nor asked him to invest in the business on their behalf.

That was the source of their troubles.

Ms. Njagi contacted Mr. Gatobu to inquire about Mr. Mwendwa’s outrageous demand. Mr. Gatobu informed her that Mr. Mwendwa was neither a shareholder nor account holder of One Coin One Life.

Ms. Njagi informed the court that Mr. Mwendwa was thereupon with a. extorted to force them to recognize the alleged Sh2.2 million debt.

He threatened to expose the lawyer as a fraudster via social media because he allegedly did not have the money had refunded. She also threatened to have her arrested and to ask the media to cover the matter.

He also threatened to use his uncle, a sitting MP, to help with to help her arrest and to inform her family that she borrowed money and refused to repay.

Summoned to Parliament’s Police Department on September 30, 2018. She was released on police cash bail and tried on September 13 to answer charges of procuring goods on false pretenses.

Judgment in favor of Attorney, Judge Makau accused the police of opening criminal proceedings against her without giving her the opportunity to tell her side of the story.

Back intentions

“The criminal case seems to be conducted to ensure ulterior motives, as the police, DCI and DPP are apparently ready to use the state machinery to intimidate and harass Ms. Nyagi, what a clear indication of a violation of their rights and the misuse of state resources, “said Judge Makau.

He stated that the criminal police and the public prosecutor were acting in bad faith and in a discriminatory manner by telling Mr. Mwend wa provides police and DCI officers for his “selfish purposes”.

“This court also notes that the petitioner is a longtime attorney for this court with more than 40 years of practice and their rights are likely to be violated on the basis of flimsy and fictitious allegations. Her reputation is being damaged in front of her clients because of allegations aimed at achieving certain goals, “said the judge when he issued an injunction against the criminal case.

” I also state that her right to practice as a lawyer can be violated without justification, as she is in danger of being arrested and charged with a crime instigated by Mwendwa to resolve some ulterior motives. “

Even assuming the lawyer borrowed money from Mr Mwendwa, the court said this was a civil action, not a criminal matter.

” A civil one Obligation cannot be prosecuted if there is no evidence to justify criminal negligence. A civil claim can only be processed in a civil court, not in a criminal court, “said the judge.

Mwendwa, for his part, told the court that a woman named Beatrice Cherono had One Coin One Life had introduced him to him to sell her 1,283 coin account for Sh2,252,000.

He informed Ms. Nyagi of the opportunity that Buying coins because she had expressed interest in investing in the business, but at this point she had no money and asked for two days to buy the account.

Urgent need of money

But because Ms. Cherono allegedly needed the money urgently, Mr. Mwendwa told Ms. Njagi that he would pay SR 850,000 on her behalf claimed he had borrowed from his wife. The attorney reportedly agreed to return the money two days later.

When the two met two days later at Barclays Bank in Nairobi West, Ms. Njagi T met old Mr. Mwendwa that the money she was expecting had been withheld.

They agreed that he would write retrospective checks to Ms. Cherono for the balance of the purchase price. Ms. Njagi promised to refund the money to him as soon as she received the money.

Mr. Mwendwa claimed that Ms. Njagi did not refund the money and eventually evaded his calls.