Kenyan televangelist David Kariuki Ngare popularly known as Gakuyo, has been released on a Ksh20 million bond following his plea on thirteen charges related to the alleged embezzlement of Ksh1 billion from members of his Ekeza Sacco.
After spending the entire weekend in police custody awaiting investigations, Gakuyo was released on bond conditions after pleading not guilty on multiple charges of fraudulent money acquisition and conspiracy to commit a felony.
The prosecution informed the court that Gakuyo and Ekeza Sacco, an entity linked to him, allegedly conspired to embezzle Ksh1,052,746.094 from the Sacco members between 2015 and 2018.
Furthermore, Gakuyo refuted allegations of falsely obtaining over Ksh3.7 million from numerous Sacco members between March 14, 2016, and February 21, 2017. He purportedly misled them by falsely asserting that the Sacco could provide loans three times the amount they invested.
Additionally, Gakuyo and Ekeza Sacco faced charges of defrauding one Edward Nduati of Ksh1.2 million. They allegedly claimed that Gakuyo Investment Club engaged in activities eligible for a two percent interest rate.
Additionally, he faced charges of obtaining Ksh436,875 from two individuals by falsely claiming he could sell them a parcel of land.
It is alleged that Gakuyo obtained substantial sums of money from the complainants at different venues, including Gakuyo Real Estate Limited Offices at Nairobi, Thika, and Limuru branches, as well as Ekeza Sacco offices.
Milimani Magistrate Benmark Enkhubi granted Gakuyo’s release on an alternative cash bail of Ksh10 million, requiring two contact persons, both of whom must be civil servants, to guarantee his appearance.
“The appointed contact persons are subject to court scrutiny, with one mandated to be a public officer,” ordered Ekhubi.
Additionally, the Thika-based preacher was instructed to surrender all his travel documents, including his passport, to the court. The magistrate further imposed restrictions on Gakuyo, prohibiting any interference with witnesses involved in the case, either directly or indirectly. Non-compliance with these directives could lead to the cancellation of Gakuyo’s bail, potentially resulting in his remand pending trial.
The preacher’s prosecution comes after he lost a court case in the High Court where he had sought to block the Directorate of Criminal Investigations (DCI) and Directorate of Public Prosecutions (DPP) from arresting and preferring any charges against him over the alleged fraudulent schemes for embezzlement of members’ cash.
Gakuyo’s woes started in 2019 the High Court also froze his multi-billion properties and bank accounts after Gakuyo attempted to sell his properties claiming he wanted to pay his creditors. Gakuyo unsuccessfully contested for the Thika Town parliamentary seat in the 2022 General Election on an Orange Democratic Movement (ODM) party.