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By Steve Umidha
Thousands of investors who invested in troubled Goldenscape Group Wednesday issued an ultimatum to the firm’s owners demanding that the company refund over Sh18.6Billion of their investments or square it at the law courts.
In a media briefing, the more than 3,000 investors through their spokesperson John Opanda, said that they will sue Goldenscape owners and affiliate companies after the company “defaulted on their contractual and moral obligation to pay Sh18.6billion to thousands of Kenyans who had invested in their numerous projects.”
“We demand swift and stern action to be taken within 30 days, failure to which we are giving our lawyers instructions to commence private prosecution proceedings,” said Mr. Opanda, their Chairman.
Goldenscape founder was last year charged for obtaining money by pretenses, conspiracy to defraud, false representation, and issuing bad cheques – this after the Directorate of Criminal Investigations (DCI) launched a manhunt against Peter Wangai Muriithi after an expose aired on a local TV station
DCI detectives on March 12, 2020 raided the company’s offices in Karen, Nairobi and rounded up five staff members for questioning.
The five employees are said to have been in the office during the raid that saw the detectives cart away documents and computers for examination.
A total of 300 people who claim that they invested in the company have since lodged complaints with the DCI with additional 3,000 yesterday joining the legal suit.
But in a quick rejoinder yesterday, Mr Wangai through his social media platforms said the company was keen on settling the said amounts from next week.
“Join our CEO live on Facebook on Friday 8pm as he discusses the refunds to our investors from March and onwards and resuming our offices in the second quarter of this year,” he said.
Goldenscape Greenhouses offered contractual obligations to investors, with an assurance of a Sh550, 000 return on a Sh320, 000 investment after six months.
On February 27, 2020, the company through its social media page posted that they will start paying the investors on February 29, 2020, however, according to the investors that never happened.
“We will be paying all our investors their returns on investments on 29th February 2020 and continue with the monthly investment payments as we always do,” the company wrote on Facebook.
“We will start giving back the capital invested by our investors starting from 20th March 2020 which will be done in trenches of course. We are very optimistic our company will resume normal operations very soon more so when our financiers release the funds to us. The investors who will receive their capital back will be the ones who are willing to terminate their contracts. We remain committed to serving you,”
On the day of payment last year, the company sent investors emails with amended contracts with reduced returns and reduced contract period.