steve1Like they say ‘lies are just a temporary delay to the inevitable. Sooner or later, the truth always comes out.” Steve Mbogo’s fraudulent business resume is fast falling apart like we all expected.

After local airline Fly540 came out to deny any association with the self proclaimed billionaire, Faulu Microfinance Bank Limited too has come out to distance itself from him.

In a letter addressed to Citizen Digital, the bank stated that Steve Mbogo has never served on their board as chairman.

“Mr. Steve Mbogo has never served as Board Member or Chairman at Faulu Bank and neither do we have any affiliation with the said Mr. Mbogo,” read the letter.

In an interview with the media outlet, Steve Mbogo had stated that he sits on the board.

Here’s the letter


A day before, Fly 540 Chief Executive and owner Don Smith vowed to sue Mbogo for claiming that he is part of its board.

“He has nothing to do with 540 nor has he ever and this really pisses me off and we are in the process of suing him for passing off,” Mr Smith told Nairobi News in an email.

Mr Smith also added that he has never met the flamboyant ‘entrepreneur.’

“We have never heard of him until he posted his claims on the web site,” he said.

Apart from claiming to be to be East Africa’s Forbes richest man under 30, Mr Mbogo also claims to own twelve 4-star hotels in Kenya, 32 apartment blocks in Nairobi, two insurance companies in Uganda, six night clubs spread in Nakuru, Kisumu and Nairobi, and a flight training academy in Wilson Airport, Nairobi.

He also claims to own and manage two law firms and three stock brokerage companies at the Nairobi Securities Exchange.

That’s not all however. He is said to own the Della Wine Estate as well as taking part in the development of the renowned Mimosa Golf Club along Ngong Road. Plus being a non-executive chair of yet another airline – Youth Aviation.

Well, this guy must be the true definition of mental illness. It is also likely that he is hiding something fishy(read drugs) behind this grandeur claims!