Two companies have asked investigative agencies to open a criminal probe into what they claim was a fraudulent and unlawful auction of properties charged to Absa Bank Kenya.
Kimani Operations Limited and Kimani Ventures Limited, through lawyer Danstan Omari, have written to the Office of the Director of Public Prosecutions and copied the Directorate of Criminal Investigations and its Banking Fraud Investigation Unit, raising allegations of fraud, collusion, misrepresentation and abuse of the statutory power of sale.
In the letter dated August 26, 2026, the companies allege that suspicious transactions arose after Absa Bank exercised its statutory power of sale over properties that had been offered as security for loan facilities advanced between 2021 and 2022.
According to the complaint, the facilities included KSh195.43 million secured by properties described as the Twin Towers, KSh130 million secured by property in Eastleigh, a KSh225 million facility backed by a fixed and floating debenture, as well as other facilities of KSh10.88 million, KSh20 million and KSh48 million.
The companies claim the bank has failed or neglected to provide them with a complete loan disbursement schedule, account statements, interest computations, payments received and an up-to-date reconciliation of the respective loan accounts.
At the centre of the dispute is a purported public auction advertised for July 7, 2025.
The complainants allege that no lawful auction took place on that date, noting that access to Nairobi was severely restricted because of Saba Saba demonstrations and that the alleged auction venue was neither accessible nor open to members of the public.
They consequently want investigators to establish whether an auction actually took place, whether bidders were present and whether there was competitive bidding.
The complaint further raises questions about companies said to have acquired some of the properties.
According to documents attached to the letter, Samatar Solutions Limited was incorporated on June 2, 2025, while Astralis Verge Limited was incorporated on May 15, 2025 — shortly before the disputed July auction.
Business Registration Service records attached to the complaint identify Ali Mohamud Afrah as a director and shareholder of Samatar Solutions at the time of the July 2025 search.
The complainants also allege that Astralis Verge subsequently underwent changes in its directorship and shareholding.
Another allegation concerns Serah Njeri Wamwea, whom the complainants describe as one of the auctioneers involved in the disputed process and, at the same time, one of the successful bidders.
The complaint states that Fancy Friends Auctioneers, whose Business Registration Service record identifies Wamwea as proprietor, had its registered premises at New Kereita Building on Kirinyaga Road — the same premises where the disputed auction was allegedly scheduled to take place.
The attached BRS record lists the nature of the business as auctioneering.
The companies argue that these circumstances warrant investigation into whether there was collusion or a pre-arranged sale.
These remain allegations contained in the complaint and have not been established as findings of wrongdoing.
The complainants further allege that there was no genuine competitive bidding and that they have not been supplied with records showing who attended the auction, the bidding register, highest bids, reserve prices, memoranda of sale, proof of payment or bank statements showing how the alleged sale proceeds were applied.
They also accuse the bank of deliberately depressing the valuations of the securities, resulting in the properties allegedly being disposed of at grossly undervalued prices.
The letter further questions why Absa purportedly commenced another auction on July 30, 2025, involving an Eastleigh property after an earlier purported sale.
Despite the alleged disposal of several securities, the companies say the bank continues to demand approximately KSh394.88 million as outstanding.
They further allege that after taking possession of some properties, the bank or persons acting on its behalf collected rent from them.
They claim the bank continues to hold titles to other properties and has threatened further sales without providing what they consider a satisfactory reconciliation of the earlier transactions.
Omari has now asked investigators to examine the conduct of Absa Bank and its officers as well as the ownership, directorship, sources of funds, banking transactions and communications involving P.M. Gachie T/A Regent Auctioneers, Samatar Solutions Limited, Astralis Verge Limited and Fancy Friends Auctioneers.
