The Director of Vaad Limited, a Nairobi-based real estate firm, was on Tuesday arraigned at the Milimani Law Courts over a Sh6.4 million fraud linked to a stalled housing project in Syokimau.
Abdiwahab Adan Maalim is accused of swindling a complainant out of millions under the guise of constructing a house under the Oakside Phase 2 project in the Mavoko Municipality.
According to the Directorate of Criminal Investigations (DCI), the matter was first reported on December 30, 2024, prompting a probe by the Economic and Commercial Crimes Unit.
Investigators found that Maalim had entered into a construction agreement dated September 22, 2022, with the complainant, for a Sh13 million project payable in phases.
Despite receiving Sh6.4 million—an initial Sh3 million deposit and subsequent payments—no construction had begun seven months after the last payment.
Detectives who visited the site confirmed that not even the foundation had been laid, despite the contractual 24-month completion window having lapsed.
Maalim pleaded not guilty and was released on a Sh1 million bond or a cash bail of Sh100,000. The case will be mentioned on May 12, 2025.
The DCI says it has received several other complaints against Maalim and Vaad Limited, and has called on any additional victims to come forward and record statements.
