By Gladys Musyoka
Lawyers representing two companies have asked the Directorate of Criminal Investigations (DCI) to investigate alleged fraud, collusion and unlawful disposal of their properties in transactions involving Absa Bank Kenya Limited.
In a letter dated August 26, 2026, Danstan Omari & Associates Advocates, acting for Kimani Operations Limited and Kimani Ventures Limited, accused the bank and several other parties of irregular transactions surrounding loan facilities and the subsequent sale of properties offered as security.
The lawyers want investigators to establish whether the alleged auctions were genuine public sales or pre-arranged transactions designed to facilitate the disposal of the companies’ properties.
According to the letter, Kimani Operations obtained a Sh195.43 million facility in February 2021, secured by two properties known as the Twin Towers. Kimani Ventures also obtained a Sh130 million facility secured by property in Section II, Eastleigh, Nairobi.
Further facilities and charges were subsequently advanced, including Sh225 million to Kimani Operations, Sh10.88 million secured by property along Maruku Road in Nairobi, and additional charges of Sh20 million and Sh48 million.
The companies claim Absa has failed to provide comprehensive loan statements, including details of disbursements, interest calculations, payments, charges and reconciliations.
The lawyers have particularly questioned an alleged auction advertised for July 7, 2025, arguing that no lawful auction took place because Nairobi was under tight security restrictions during the Saba Saba demonstrations.
They claim the alleged auction venue was inaccessible to the public, raising questions over whether there were genuine bidders.
“The circumstances surrounding the purported auction therefore raise serious questions as to whether any auction was conducted at all,” the lawyers stated.
The advocates have also raised concerns over companies allegedly incorporated shortly before the purported auction, including Astralis Verge Limited and Samatar Solutions Limited.
They further allege that one of the auctioneers, Serah Njeri Wamwea, was among the successful bidders, creating what they described as a potential conflict of interest.
The clients also allege that their properties were deliberately undervalued, causing them financial loss.
Despite the purported sales, Absa allegedly continues to claim an outstanding balance of about Sh394.88 million.
The lawyers want the DCI to investigate the bank, auctioneers, companies allegedly involved in acquiring the properties and their directors and beneficial owners.
They said the investigation should establish whether there was “possible conspiracy to defraud, fraudulent acquisition and disposal of property, collusion, fraudulent misrepresentation and abuse of the statutory power of sale.”