Billionaire Humphrey Kariuki steps down from his group of companies


Billionaire Humphrey Kariuki steps down from his group of companies

In Summary

  • The businessman, whose whereabouts are unknown and is believed to be in London, at the same time announced that he will fight the tax evasion case he labeled as "baseless" in court.
  • The company at the same time appointed Managing Director Margaret Mbaka to take over Kariuki's role in an acting capacity and will be assisted by the CEO Rikin Shah.

Billionaire businessman Humphrey Kariuki has stepped down as the chairman of his Janus Continental Group (JCG) over the Ksh.41 billion tax evasion case.

The businessman, whose whereabouts are unknown and is believed to be in London, at the same time announced that he will fight the tax evasion case he labeled as “baseless” in court.

“In light of developments in the investigation process, Humphrey Kariuki recently made the decision to voluntarily stand as Chair of the Board of Janus Continental Group and its associate businesses,” reads a statement from Hellen Akello, the Chief Human Resources Officer.

“Humphrey Kariuki explained that this will allow him to focus his efforts on challenging the baseless claims in courts.”

The company at the same time appointed Managing Director Margaret Mbaka to take over Kariuki’s role in an acting capacity and will be assisted by the CEO Rikin Shah.

Janus Continental Group is an international conglomerate, comprised of market-leading companies in the Energy, Hospitality and Real Estate sectors according to the group’s website.

The group is in operation in eight countries, has nine top brands and employs over 2000 employees.

“We are committed to cooperating with the investigation so that this matter can be resolved quickly,” added the statement.

Mr. Kariuki stepped down five days after Director of Public Prosecution (DPP) Noordin Haji gave a nod to the Directorate of Criminal Investigations (DCI) to arrest and charge him with evasion of taxes.

Sources privy to the probe have intimated to Citizen Digital that the DPP will be moving to court on Tuesday to seek an international warrant of arrest for Kariuki.

The DCI will also be seeking to repossess Kariuki’s wealth including the famous five star Fairmont Mount Kenya Safari Club in Nanyuki, The Hub Karen Mall in Nairobi, private planes and more than 80 high end vehicles registered under his name.

Last week the courts issued a search warrant allowing the DCI to search his properties across the country.

Despite the court giving a nod to the detectives to seize his property, sources say detectives have only managed to seize two vehicles and an aircraft in Laikipia County.

14 people said to be directors of 31 firms linked to Kariuki are also under the DCI radar.

Three accused persons – Peter Njenga Kuria, Robert Murithi and Kefa Gakure – in the case took plea last week before chief magistrate Francis Andayi at the Milimani law courts. They pleaded not guilty to over 20 counts pressed against them.

They are facing charges in regard to failure to pay tax contrary to the laws of Kenya.

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