A Rwandan investor has won a spirited legal battle in Kenya over the ownership of a Ksh400 million ($2.6 million) online company, which he had been defrauded by a Kenyan trader.
In the historical judgment, which lawyers say will restore and woo back investors who had run away due to corrupt dealings, Desire Muhinyunza, has been given back Stay Online Limited (SOL).
Justice Alfred Mabeya directed Mr Kirimi Koome to return all the shares of SOL to Mr Muhinyunza.
Mr Koome was also ordered to pay Mr Muhinyunza interest on the $2.6 million at court rates until payment is made in full.
The millions had been frozen by the Directorate of Criminal Investigations (DCI) officers when Mr Muhinyunza complained he had been defrauded the company by Mr Koome.
Further, the judge directed Mr Koome to return some $100,000 he had received from Mr Muhinyunza as tax money but converted the same to personal use.After establishing Mr Muhinyunza had proven the company belonged to him, the high court declared him the sole owner and not Mr Koome as he purported.
Mr Muhinyunza had been defrauded the business entity by the Kenyan entrepreneur in April 2023.
Source: The East African
