The late businessman Nginyo Kariuki. FILE PHOTO | NMG The eldest son of the late businessman and politician Lawrence Nginyo Kariuki has asked the High Court to let him run his father’s Sh4 billion estate, accusing his mother and some siblings of unilaterally transferring cash from corporate accounts to their own personal accounts.James Anthony Kariuki told the High Court’s Family Division that the estate risks being wasted away since the family squabbles are hurting strategic and management decision-making.The senior Kariuki died on February 24, leaving behind a contested Will, a widow (Margaret Wangari Nginyo) and nine children, including three from two other women.The latest rift in the succession battle erupted in Margaret’s household that had previously put up a united front against the claims resulting from the children born out of wedlock – Brenda Nyambura Kiragu, Alex Ndoria Karuri and Austine Wachira Karungo.James told the court that his mother and siblings Silas Macharia Kariuki, Scholastica Njeri Kariuki and Jane Wambui Kariuki have liquidated a total of Sh71 million in fixed deposit accounts of Pema Holdings Limited at I&M Bank.They transferred the cash in two transactions to a current account they control and without the knowledge of James, court documents show.“It has come to my knowledge that a further Sh61 million has been withdrawn from the Pema Holdings account and transferred to the joint account without my knowledge or involvement,” said James in court papers.“It is my belief the 4th defendant (his mother) has been guided in her actions by the 5th, 6th and 7th defendants (his siblings).”His claims back those of her step-sister, Brenda, who has also sued lenders — Consolidated Bank, I&M Bank and Co-operative Bank — over hundreds of millions of shillings in accounts and for offering Margaret’s children access to the finances without letters of administration.Mr Kariuki had a total of Sh335 million in fixed deposit accounts, with most of the cash at Consolidated Bank of Kenya.Cash in his other savings accounts, including at Equity and Habib Bank, have not been disclosed.His vast estate, including real estate, farming, bank deposits and government bonds, had little debts.The estate is the subject of an inheritance court fight triggered by a woman claiming to be a widow of the late politician and three other children born out of wedlock – Brenda, Alex Ndoria Karuri and Austin Wachira Karungo — who were all excluded from the Will.Brenda, through court, pushed […]
Nginyo Kariuki daughter, son in Sh4bn estate row
