Court freezes Stay online Ltd 300 M account over ownership dispute between a Rwandese Investor and Kenyan man.

A Rwandese investor has secured orders freezing Stay online ltd accounts after he claimed that a Kenyan conman, he used to register it has now turned against him and refused to hand over the company valued at over Sh 400 million.

Desire Muhinyuza has told court that he used Kirimi Koome to register the company in Kenyan because he did not have papers at the time but Koome has now refused to hand over the business which he did not contribute anything towards it.

On Monday Justice Alfred Mabeya allowed the application by Desire and froze the accounts pending hearing and determination of the case.

“THAT in the meantime, there shall be freezing orders on the Company’s account in terms of prayer no. (b) of the Motion,” the order reads in part.

The case will be mentioned on Monday next week for directions by the judge and in the meantime the court has directed desire to serve Koome and the registrar of companies.

Koome was arraigned in court on Thursday last week over the same issue but he was not charged as the plea was deferred to Tuesday this week.

Koome is facing among other charges conspiracy to defraud and its alleged that he conspired to steal from Desire 2.6 Million USD by falsely pretending that that he was the owner of the said funds.

Desire has told court that the money in question belongs to Merchants being Mastercard and not him so Koome does not have any claim to the said money he was only supposed to get a percentage from profits.

Koome has since withdrawn over Sh 15 million of the money without Desire’s consent even though he was a signatory to the account.

CH Reporter

CH Reporter

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