Kes.40M Loresho Home Among Kes.235m Obado Assets to be Auctioned After Settlement With EACC

June 21, 2024

Former Migori Governor Okoth Obado will lose property worth Kes.235 million, believed to have been acquired through proceeds of corruption.

Obado and Ethics and Anti-Corruption Commission (EACC) have reached a compromise that will also see him forfeit two high-end vehicles. On Tuesday, the High Court granted the anti-graft body authority to seize and auction these assets.

According to EACC, the properties, including a Kes.40 million home in Nairobi’s Loresho estate, belong to Obado and his associates and are proceeds of corruption and unexplained wealth stolen from the Migori County Government.

In a consent recorded before High Court Judge Esther Maina, EACC dropped the cases on unexplained wealth against Mr. Obado and his children, among others.

In the settlement deal, Obado has forfeited two Land Cruisers seized in 2020, the above mentioned house in Nairobi’s Loresho area, two apartments in Nairobi’s Greenspan area, a maisonette in the same area, and a two-story block in Suna East.

Mr. Obado will also forfeit a commercial block known as Sunrise Centre in Suna East worth Kes.88 million, a five-story residential block in Suna East worth Kes.57.6 million, and another property in Kamagambo worth Kes.10 million.

“Now therefore, the defendants have offered to surrender and the commission has accepted to receive 8 properties and two motor vehicles, as more particularly set out in hereunder at the current market value of Kes.235,600,000 to be disposed of by way of public auction in full and final settlement,” states the consent signed on June 4, 2024.

The EACC initially targeted over Kes.2 billion allegedly siphoned from the Migori county government and sought a court ruling on whether this constituted unexplained wealth under section 55 of the Anti-Corruption and Economic Crimes Act.

The anti-graft body filed two cases: one seeking the forfeiture of unexplained assets worth Kes.1.9 billion, and another petition seeking the recovery of assets worth Kes.73.4 million as proceeds of corruption.

The EACC pursued an out-of-court settlement because it could not trace relevant documents after a fire damaged the county stores in September 2017, destroying the evidence.

Don't Miss