Suspect in Ksh4.4M logbook loan fraud released on Ksh100K cash bail

By , K24 Digital
On Wed, 16 Feb, 2022 14:06 | < 1 min read
George Gitu

A suspect behind a series of motor vehicle registration fraud in Nairobi has been released on Ksh100, 000.

According to Directorate of Criminal Investigations (DCI), George Gitu has been colluding with rogue NTSA officials to register high end vehicles in his name and use them to borrow loans from credit institutions.

"The con who lives a soft life on other people’s sweat obtained over Ksh4.4 million through forged logbooks of four vehicles belonging to unsuspecting vehicle owners, was arraigned at the Makadara Law Courts," DCI said in a statement, adding that; "he is out on a Ksh100,000 cash bail."

Gitu was registered in the NTSA's TIMS system as the bonafide owner of KCD 974Z, Isuzu D-Max, KCR, 280R Toyota Vanguard and KCL 922G, Toyota Landcruiser Prado.

"After acquiring Ksh1.5 million from Northwave Credit, Ksh1.4 million from Momentum Ltd and Ksh843,000 from Bidii Credit, the logbooks were reverted to their original owners, in a well-choreographed scheme similar to a Hollywood movie script," DCI added.

The owners were left at the mercy of ruthless auctioneers who later went for the vehicles that had been used as security.

Detectives said they have so far arrested five NTSA officials involved in the crime.

Related Topics