Property manager admits retaining rental deposits in Sh6m theft case
A property manager charged with stealing more than Sh6 million he collected in rent from several rental and commercial buildings in Nairobi three years ago has admitted that he retained the monies he received as deposits from tenants during the Covid-19 pandemic.
Peter Gathungu Gikonyo on Friday told the Milimani Law Courts that he retained deposits collected from seven properties he was managing.
While answering questions from state prosecutor James Gachoka, Gikonyo admitted he was questioned on several occasions by lawyer Charles Kibanga about the deposits he had received from tenants and asked to pay to the landlords.
Mr Gikonyo, trading as Afriland Agencies, admitted preparing lease agreements signed by tenants without the permission of the landlords.
However, the accused told the court many tenants moved out of the properties during the pandemic, which affected cashflow. Mr Gikonyo said most of the houses he managed in Ngara and Kahawa estates were rented out to students from the University of Nairobi and Kenyatta University.
A warrant of arrest was issued against him in March 2020 after he failed failed to turn up in court in the case in which he has been charged with the theft of Sh6,133,900.
Mr Gikonyo has denied stealing Sh4,390,560 from Kaggs Investment Limited between June 29 and September 1, 2020. The charge sheet states Mr Gikonyo had been entrusted with the money for safe custody.
The agent, who is out on bond of Sh1 million, is also facing another count of stealing from Keithian Investments Limited Sh1,743,340.