Documents tabled by the prosecution in the court indicated that the firm, 51 Capital owned by controversial businessman with a criminal past Joe Kariuki used fake documents in almost all its transactions that saw it being paid Sh 206.2 million in a deal that left farmers with heavy losses.
It emerged that he used the Kenyatta’s owned bank -NCBA to defraud farmers and consequently launder money like in the NYS saga.
Details emerged how National Cereals and Produce Board (NCPB) top officials conspired with a Joe Kariuki to supply farmers with an ingredient used to reduce high acidity in the soil in the disguise of providing them with fertilizer.
Reports also indicated that those behind the scheme, bought the soil conditioner, scientifically known as diatomaceous at Sh 200 per a kilogramme and sold it to NCPB at Sh1700, making an impeccable profit.
A total of 106,000 bags of diatomaceous 25 kg each (soil conditioner) were supplied to NCPB with 51 Capital being paid Sh 205,222,000 through its account number 4746630018, NCBA bank, Prestige branch through Swift Code CBAFKENXXXX.
According to the documents, 51 Capital entered into a contract with NCPB on March 31, 2022 so supply to the cereals board among other items, animal supplements, GPC Guard and Diatomaceous.
Suspended NCPB Managing Director Joseph M. Kimote and Corporation Secretary J.K Ngetich signed the contract behalf of the parastatal while Josiah Kimani Kariuki, the director at 51 Capital signed on behalf of the private entity.
A Mr Abraham G. Wanjiru signed the document as a witness.
KenyanHour 