JUSHUA KULEI PLANNING TO FLEE KENYA OVER MOUNTING COURT CASES AND DEPTS

Businessman Joshua Kulei

A source close to retired president Daniel Arap Moi’s close confidant and aide Joshua Kulei has intimated to The Weekly Vision that the once revered man is planning to flee the country due to mounting court cases and piling debts due to loss of business.

The man who once had interests in insurance, banking, hospitality, and logistics businesses is said to owe financial institution billions of shilling and auctioneers are planning to step in.

Mr. Kulei has not been seen in his offices over the last one month sending shockwaves to employees over the whereabouts of the businessman.

Last month a court was told of how millions of shillings was irregularly withdrawn from the Kenya Pipeline Company (KPC) then wired to his bank accounts at NIC bank which has so far been frozen by the Kenya anti banking fraud department of the Central Bank of Kenya.

Mr Kulei’s firm was paid Sh17.9 million for services not rendered and on claims that it offered engineering to an LPG company called East Africa Gas Company Limited (EAGCL) which was owned 45 per cent by KPC under a joint venture with his firm. 

The land offered for the joint venture belongs to the government; 12 plots were irregularly excised from Kenya Airports Authority (KAA) property and transferred to EAGCL.

KPC spent Sh65 million on consultancies and feasibility studies on the non-existent project from 1995 to 1997. According to the prosecution, Mr Kulei obtained Sh12 million from Gasthe LPG company on May 19, 1999 through another of his firms, Ashar Ltd, and a further Sh5.9 million later by falsely pretending that his firm Sian Ltd had paid land rent, rates and the assessment fees. The companies were paid irregularly without providing any goods or services to EAGCL,

 Mr Kulei’s partner Prakash Bhundia who operated an office on Hughes building along Kenyatta Avenue has fled the country and is currently hiding in Dubai.  The bald Asian was untouchable during the Moi days due to Kuleis influence.

The latest casualty in Mr. Kuleis stable is the imminent Auction of Intercontinental hotel along parliament road due to a 700 million debt it owes creditors. But sources claim this is a ploy by Mr. Kulei to quietly liquidate his shares before the hotel is sold to some Arab investors.

                  

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