NAIROBI, Kenya, May 10 – The Criminal Investigations Department (CID) has urged the High Court to allow a probe into the alleged illegal transfer of over Sh1.64 billion from Tusker Mattresses Limited (Tuskys)to other entities.
Corporal Gideon Wamocha filed an affidavit asking the court to allow police investigate the allegations following complaints by two directors.
Wamocha said it is in the interest of justice that the court should permit police full and unhindered investigations, adding that allegations that colossal amounts of money may have been stolen or misappropriated from the company may constitute an offence under Section 282 of the Penal Code.
He also wants the court to reject an application by directors Stephen Mukuha Kamau, George Gachwe Kamau and Frank Kamau who want the probe halted on grounds there is real likelihood or possibility of destruction of vital documents.
Wamocha said investigations into claims the trio stole money from the company to the tune of about Sh1.642 billion between May 2009 and January 2012 ought to be allowed.
Directors Ann Wamaitha Gatei and Yusuf Mugweru claim the monies were allegedly transferred from the bank account of M/s Tusker Mattress Ltd held at Barclays, KCB, Diamond Trust and Consolidated banks to third party company bank accounts which are allegedly owned by the trio and other unknown directors.
Wamaitha is said to have discovered the underhand dealings when she was working as an internal auditor.
She has however since been sacked by Mukuha, who is the managing director.
Colossal amounts of monies were paid from Tusker Mattresses to Tuskys Kampala, Gathera Villas, Pop Media Ltd, Kenspore Company and Enkarasha department store, to the tune of Sh279 million, Sh400 million, Sh200 million, Sh322 million and Sh441 million respectively.
Other companies which are suspected to have been paid unknown amounts of money include Kiran Dry Cleaners Ltd , Cute Interiors Ltd, Gourment Ltd, Magic Pay Ltd, Save Net Ltd and Fortune Star Ltd.
According to Wamocha, following investigations, the Registrar of Companies confirmed the three men are the directors and shareholders of Gutherea Villas Ltd and Enkarasha Ltd.
Meanwhile in efforts to set the record straight in the ongoing boardroom wrangles, some of the directors of Tuskys said acquisition attempts by an international supermarket chain is to blame for the recent drama.
A statement released by Tuskys Directors in the local newspapers, said the well-known supermarket, seeking to penetrate the regional retail market, expressed an open interest to acquire Tuskys several times in the past and failed.
“The advances made by this renowned chain of supermarkets were rejected and they therefore resorted to surreptitiously using some family members to try and sneak in using the back door,” the statement revealed.
The international firm’s efforts have shown up in “underhand dealings, dirty tactics and sowing of conflict among some directors to lay the foundation for a force takeover,” the statement added.
Though acknowledging the organic growth that could come out of partnering with a more experienced player, Tuskys said it is not ready to establish such linkages.
“When such a time comes, such a linkage will be on our own terms and conditions and will not be dictated by external forces. We are masters of our own destinies,” the statement explained.
Tuskys has dismissed recent media reports in the unfolding family dispute, saying they had been blown out of proportion and contain inaccuracies.
“We shall not dwell on the details of the conflict that has made the news of late largely because some of these matters are internal and therefore we are not in a position to dissect and disassemble some of these baseless accusations,” the statement said.
Tuskys grew from a small mattress shop in Nakuru run by the late Joram Kamau in the 1980s to a regional chain with a footprint extending beyond Kenya into Uganda and soon Rwanda and Burundi.