George Maina Muriithi, the Director of Mara Ndovu Lodge Limited. Photo by DCI 
By Andrew Mbuva
George Maina Muriithi, the Director of Mara Ndovu Lodge Limited, has been arraigned at the Milimani Law Courts for allegedly defrauding an investor of Sh48.8 million in a fraudulent share acquisition scheme.
According to a report filed at Parklands Police Station, Muriithi lured the complainant in October 2022 with a seemingly lucrative investment opportunity involving the sale of 48,800 shares in Mara Ndovu Lodge Limited, each valued at Sh1,000.
The complainant, convinced of the legitimacy of the offer, agreed to the deal and deposited the full amount—Sh48.8 million—in two tranches. The payments were made through Otieno & Ambrose Advocates, a law firm representing Muriithi.
Investigations by Parklands-based detectives revealed that a formal share purchase agreement was drawn up on December 22, 2022, by the same law firm. The contract clearly outlined the terms of the sale, confirming the transfer of 48,800 ordinary shares in exchange for the agreed amount.
However, after receiving the funds, Muriithi reportedly became evasive and failed to honour the agreement. Despite several attempts by the investor to follow up on the matter, the shares were never transferred.
The Directorate of Criminal Investigations launched an inquiry into the matter, culminating in Muriithi's arrest and subsequent arraignment.
Appearing before the Milimani Law Courts, Muriithi denied the charges levelled against him. Prosecutors, however, opposed his release on bond, arguing that he posed a flight risk. The court ordered that the accused be remanded at Capitol Hill Police Station pending a ruling on his bond application, scheduled for July 15, 2025.
The case has sent shockwaves through investment circles, with authorities warning potential investors to exercise caution and conduct due diligence before engaging in large-scale financial transactions.
