Equity Bank CEO James Mwangi has been taken to court for allegedly grabbing a three-acre land in Muthaiga, Nairobi, belonging to a private company.
According to Mount Pleasant Ltd, the Equity Bank executive used the police to trespass into the property, that he has laid claim.
It is alleged that that on June 15, 2020, Mwangi went to the piece of land with police officers, kicked out the guards and installed his own.
According to Mount Pleasant Ltd, the property registered under Land Reference No 214/20/2 was bough from former finance minister Arthur Magugu and his wife Margaret Wairimu at Ksh130 million on July 21, 2006.
Mwangi and his fellow respondent, Jane Wangui Mundia, allegedly bought the land at Ksh306 million in 2013.
In 2013, another businessman, John Birech filed an encroachment complaint that the company had encroached on LR No 214/20/2/1 and LR No 214/20/2/2. He was accused of trying to grab the land and Birech subsequently charged with forgery but the court acquitted him on July 5, 2019.
Birech had been sued by Mount Pleasant, and he admitted that he had no interests in the land.
In 2015, a land search showed that the data on the land ownership could not be found, hence Mount Pleasant was forced to file a missing file complaint. In 2016, Mount Pleasant was issued with a certificate confirming ownership of the land.
It is claimed that the land register was tampered with to clear evidence to clear details of successive ownership.
Mwangi is yet to respond to the accusations.