Billionaire businessman Humphrey Kariuki resigns to focus on probe

Wednesday, August 14th, 2019 00:00 | By
Humphrey Kariuki. Photo/FILE

Billionaire businessman Humphrey Kariuki has resigned as the chairman of Janus Continental Group (JCG).

A statement signed by Hellen Akello, JCG chief Human Resource officer, said Kariuki stepped down as the chair of the company’s board in light of developments in the ongoing probe against him over alleged tax evasion.

“Kariuki said this will allow him to focus on challenging the claims in courts,” read the statement.

“In the meantime, the board has come to the decision that managing director Margaret Mbaka shall step in as acting chair of the board, with support of chief executive officer Rikin Shah.”

JCG has interests in the energy, real estate, hospitality and conservation sectors in Zambia, Kenya, Uganda, and Mozambique, among others.

Kariuki is on the radar of security agencies following claims of tax evasion in Kenya amounting to Sh41 billion, and other charges preferred against him by the Director of Public Prosecutions Noordin Haji. 

Seize property

Sources said Kariuki may have travelled to Johannesburg last Thursday and was to travel to Maputo.  Some unverified sources said Kariuki could be in Dubai.

Lawyers close to him said he has moved to Southern Africa. 

The State is seeking to seize the five-star Fairmont Mt Kenya Safari Club,  The Hub shopping mall in Karen, Nairobi, private planes, 89 vehicles and bank accounts of 31 firms linked to him.

A search warrant was granted by a Milimani law court for detectives to search property in which Kariuki has shares following an application by the DPP.

The court also allowed detectives to seize, detain and freeze any property in respect to the search warrant. However, nothing has been seized so far. 

On Saturday, Directorate of Criminal Investigations (DCI) officers, led by Economic Crime Unit boss Michael Sang, went to  Fairmont Mt Kenya Safari Club in search of Kariuki’s assets.

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