Televangelist David Kariuki Ngare, popularly known as Gakuyo, has been released on Ksh20 million bond after pleadings to thirteen charges of theft of Ksh1 billion from members of his Ekeza Sacco.
Milimani Magistrate Benmark Enkhubi freed Gakuyo on an alternative cash bail of Ksh10 million with two contact persons who are civil servants.
"The contact persons are to be examined by the court and one must be a public officer," Ekhubi ordered.
The Thika-based preacher was also ordered to deposit in court all his travelling documents including his passport.
The magistrate further barred Gakuyo from interfering with witnesses in the case, directly or indirectly. Failure to comply with the order, Gakuyo risks having his bail cancelled, and he may be remanded in custody pending trial.
Gakuyo, who spent the entire weekend in police cells pending investigations, was freed on bond terms after denying several charges of obtaining money by false and conspiracy to commit a felony.
The prosecution informed the court that Gakuyo and Ekeza Sacco, a company associated with him, on diverse dates between 2015 and 2018, conspired to steal Ksh1,052,746.094 from the Sacco members.
Gakuyo further denied charges of obtaining over Ksh3.7 million from various members of the Sacco between March 14, 2016, and February 21, 2017, by falsely pretending that the Sacco could grant a loan three times the amount invested.
In addition, Gakuyo together with Ekeza Sacco were charged with defrauding Ksh1.2 million from Edward Nduati claiming that Gakuyo Investment Club was carrying out businesses that could attract two per cent interest.
He was further charged with obtaining Ksh436,875 money from two persons under the pretence that he could sell them a piece of land.
Gakuyo is alleged to have obtained billions of shillings from the complainants at various locations including Gakuyo Real Estate Limited Offices at Nairobi, Thika and Limuru branches, and Ekeza Sacco offices.
The preacher's prosecution comes after he lost a court case in the High Court where he had sought to block the Directorate of Criminal Investigations (DCI) and Directorate of Public Prosecutions (DPP) from arresting and preferring any charges against him over the alleged fraudulent schemes for embezzlement of members' cash.
Gakuyo's woes started in 2019 the High Court also froze his multi-billion properties and bank accounts after Gakuyo attempted to sell his properties claiming he wanted to pay his creditors.
Gakuyo unsuccessfully contested for the Thika Town parliamentary seat in the 2022 General Election on an Orange Democratic Movement (ODM) party.
The bishop was also one of the major players in Kiambu's 2017 political campaigns and was said to be amongst the biggest financiers of former Governor Ferdinand Waititu’s campaigns.
