May 18, 2022

Youth Fund Scam: Court fines businessman Mukuria Ngamau Sh720.8m, or in default serve 27 years in jail

Director of Quorandum Limited Mukuria Ngamau

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A businessman has been fined 720.8M for defrauding the Youth Fund Enterprise Sh 180 million.

The Director of Quorandum Limited Mukuria Ngamau faces 27 years in jail if he fails to pay the fine.

Milimani Chief Magistrate Douglas Ogoti found Ngamau guilty.
Ngamau has been convicted of five counts of conspiracy to commit an economic crime, unlawful acquisition of public property and making false documents.
Ogot also ordered Quorandum Ltd to compensate the Youth Fund Enterprises Sh 180,364,789 being the amount that was lost.

Ogoti dismissed the businessman request for none custodial sentence after the 48-year-old trader sought a lenient sentence.
Ogot argued that sentence is dictated by Anti-Corruption and Economic Crimes.

The case has been in court for about three years.

The Asset Recovery Agency, using the case, seized an Sh48.5 million apartment in Lavington, Nairobi in 2018.

 

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