Vaad Real Estate director Abdiwahab Adan Maalim charged over Sh6.4million fraud
Maalim is said to have scammed an innocent investor after he claimed he would construct a house as part of the Oakside Phase 2 project in Syokimau area of Mavoko Municipality
Vaad Limited Real Estate director Abdiwahab Adan Maalim was yesterday charged with Sh6.4million fraud before a Milimani Law Courts in Nairobi.
Maalim is said to have scammed an innocent investor after he claimed he would construct a house as part of the Oakside Phase 2 project in Syokimau area of Mavoko Municipality.
However, he pleaded not guilty to the charges against.
According to evidence presented before court, the troubles of the Vaad Real Estate director began when a complaint was filed at the Directorate of Criminal Investigations Headquarters in December last year.
The report detailed how Maalim solicited Sh6.4million from a complainant, claiming he would construct a house as part of the Oakside Phase 2 project in the Syokimau area of Mavoko Municipality. Detectives from the Economic and Commercial Crimes Unit launched a thorough investigation and uncovered that Maalim had entered into a contractual agreement with the complainant for the construction of a house.
According to a report by the DCI, the agreement between Maalim and the victim dated September 22, 2022, stipulated a total project cost of Sh13million, which included a Sh3million upfront deposit and subsequent periodic payments, all expected to be completed within 24 months.
However, as it turned out, seven months after the deposit was made, the complainant had disbursed a total of Sh6.4million, but Maalim and his company had yet to commence any construction work.
“The agreement shows that the total project would cost Sh13 million and was to be completed within two years. One year after the signing of the agreement, Vaad Limited had not commenced the work despite the complainant having paid Sh6.4 million,” The DCI said.
The DCI revealed that they had previously received multiple complaints against Maalim and Vaad Limited, which are all currently under investigation.
“We urge anyone who may have fallen victim to Maalim’s fraudulent schemes to come forward and file their reports at the DCI Headquarters,” they appealed.
He will appear on May 12, 2025 for the mention of his case and was released on a Sh1million bond and an alternative cash bail of Sh100, 000.
