3 CEOs Forfeit Ksh 305M Assets Amid Government Crackdown
In an out-of-court settlement with the Ethics and Anti-Corruption Commission (EACC), the directors of three Coast-based companies surrendered assets worth Ksh305 million.
In a statement released on Monday, the Commission noted that Pwani Holdings Resort Limited, Bantus Investment Limited, and Pangos Limited had returned to the state the title deeds to four islands within the Kisite – Mpunguti Marine National Reserve.
EACC noted that the recovery was achieved through the Alternative Dispute Resolution (ADR) mechanism of the Commission.
The companies and their respective directors purportedly acquired the Kwale County parcels illegally.
“The property comprises 4 islands within the Kisite/Mpunguti Marine National Reserve, which is a protected, reserved, and gazetted area under the management and conservation of the Kenya Wildlife Service (KWS),” read the statement in part.
ALSO READ: Bhang Worth Ksh.9.5 Million Nabbed After Self-Involved Accident In Kilifi
“The Commission encourages all other persons illegally holding public property to take advantage of the ADR mechanism to resolve disputes as opposed to waiting for a lengthy and costly litigation process.”
The surrender will permit the revocation of the title documents and a new registration under KWS.
According to reports, one of the land’s occupants intended to construct a private airstrip on the property.
State agencies have intensified their crackdown on land squatters, but some critics have pointed out that the true land barons are shielded by high office.
In August, EACC effectively reclaimed a portion of a parcel of land worth Ksh9.4 million that was a component of the national government cemetery project.
At the time, the state gave Ksh283 million to Nairobi for the purchase of cemetery land.
However, the city only acquired land worth Ksh110 million, with the remainder reportedly acquired by private parties. After a lengthy legal conflict, the state was victorious.
3 CEOs Forfeit Ksh 305M Assets Amid Government Crackdown