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Murayas And Gatabakis: A Case Study Of Why You Should Avoid Diamond Properties Limited

Murayas And Gatabakis: A Case Study Of Why You Should Avoid Diamond Properties Limited

Seeing what has been happening at the much hyped real estate bubble in the city and its environs, people need to be informed on who and who not to deal with. Fraudsters are allover and they, using the same swindled money, have managed to bribe the system and stay afloat. They be thriving on your hard earned money.                                                                                                                                                                                                                                                                                                                                                                                                                            For those who don’t know and those who have forgotten, DIAMOND PROPERTY MERCHANTS is a scam.  Buy land from them at your own risk they no longer issue titles deeds. The days of this crooks are numbered and sooner or later they will follow the footsteps of MUGA Properties Ltd. Remember the much hyped Fourways Junction Estates along kiambu Road?

In 2007, two couples — Peter Kiarie Muraya and his wife Susan (more famously known as Suraya), and Dr Samuel Mundati Gatabaki and his wife Nancy — came together to execute what was sold to unsuspecting Kenyans as a grand idea.

The proposal was for the four to start a joint venture in which the Gatabakis would contribute the 105 acreage and the Murayas the equivalent in cash. The name of the special-purpose vehicle would be Muga Developers Ltd, and through it, they would build Fourways Junction Estate.

Thirteen years later, the agreement has come a flopped terribly and has left the two parties accusing each other of fraud. Who is a bigger thief here?

The Gatabakis claim to have unearthed a web of underhand dealings that have altered the original plan, saddled them with loans and put them at risk of losing all the land.

Documents recently filed with the High Court in Nairobi on the matter read like a thriller, with the Murayas accused of attempting to dispossess the Gatabakis of their land through forgeries, with the assistance of various government offices.

Dr Gatabaki and his wife say the Murayas lied about their ability to finance the housing project during the negotiation and execution of the joint venture agreement, and that all they wanted was access to the title deeds to use them as security to borrow money from banks.

“The joint venture agreement was structured on a 50:50 basis, the Gatabakis having yielded 105 acres of their land and the Murayas undertaking to inject monetary capital of equal value towards construction of the housing development on the entire 105 acres,” read the court documents. The 105 acres were to be hived from title L.R. No. 5980 measuring 200 acres owned by the Gatabakis.

The Gatabakis claim that since March 2018, when they first discovered the plot to defraud them, they, along with lands fraud investigator Anthony Macharia Gathatta, have unearthed multiple cases of forgery that were masterminded by Murayas.

But in his rejoinder, Mr Muraya accuses the Gatabakis of lying. He says when they entered into the agreement, the Murayas discovered that the former owned only 47 acres of the land.

“In the year 2007, Dr Samuel Mundati Gatabaki and his wife Mrs Nancy Wanja Gatabaki informed me that they owned the 200 acres of land. I was doubtful because they were operating in a kiosk selling chapatis to students of the school located in their original home as their main source of livelihood,” said Mr Muraya in his replying affidavit.                                                                                                                                                                                                                                                                                                                                                                                                                                This confusion is what leads to the lose of people’s money. Remember the same thing happened when Josphat Kabeabea ,Chief Culprit and founder of DPM took people’s money  pretending to be a title deed problem solver? Diamond Properties his company has been unable to issue title deeds for people who gave him money. He campaigned with investors money. No photo description available.

https://kenyanbulletin.com/2020/02/11/part-3-of-3-photos-and-why-you-need-to-avoid-diamond-property-merchant/

Owing to the numerous complains from the investors, Cofek issued a series of social media statements warning Kenyans against doing any more business with the real estate developer.                                            “Buying land from Diamond Property Merchants? Think again! This is a public service announcement for you to exercise extreme discretion. Diamond Property Merchants gave a raw deal to hundreds of their clients,”  the consumer watchdog warned in a Twitter statement sometimes back when they were still interested in people’s and mostly scammed investors complaints.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Then DPM came up with a media cleansing programme that managed to silence githeri media, muted COFEK and yes, DCI and EACC turned a blind eye on all the allegations. By the way Edwin Khiranga was the lead cleaner.  Hard-working investors were hoodwinked to invest in a half-thought green house investment in Kajiado and when it flopped, Edwin Khiranga was put to task to defend Diamond Property Merchants.                                                                                                                                                                                                                                           Edwin Khiranga chose to take a hard-line stand of won’t pay, can’t pay. Playing cat and mouse games with people’s money in their blame game with Nguzo. The contract was between the two parties, DPM and Nguzo, why involve investors in the deals they were never involved in at the beginning? Just like the Murayas and Gatabakis, Diamond Property Merchants are the next pyramid scheme that will, if not yet already, fall with so many people’s hopes and most painfully, invested money.