A director of Gladdens Homes Limited has been charged at the Makadara Law Courts over an alleged housing fraud scheme in which 22 people are said to have lost a combined KSh 28 million.
Bildad Nzuki Wambua appeared before the court on September 2, 2026, in MCCR No. E5356/2026, where he faced several charges of obtaining money by false pretences under Section 313 of the Penal Code, alongside a money laundering charge.
According to investigators from Starehe Sub-County, Wambua allegedly ran the scheme between 2024 and 2026, convincing prospective homebuyers that they could acquire houses on Land Title No. Nairobi/Block A 40/474 through what was presented as the Urban Housing Renewable Development LPP project.
Investigators allege that payments were made through Gladdens Homes Agency, a privately registered entity linked to the accused. The buyers are said to have been persuaded to part with their money based on representations about the housing development.
The prosecution has opposed the accused’s release on bond. A ruling on the bond application is expected today, September 3, while the case will return to court for mention on October 15, 2026.
Authorities are now seeking to identify other people who may have dealt with Wambua or Gladdens Homes Agency under similar circumstances.
Anyone who believes they may have been affected by the alleged scheme has been encouraged to report the matter to the DCI Starehe Sub-County offices for assistance and further guidance.
The DCI has also reminded members of the public to conduct proper due diligence before committing money to property deals and to report suspected fraudulent transactions to law enforcement agencies.
