Kibaki Minister's Lavish Home Auctioned Over Ksh70M Debt

  • A lavish Karen, Nairobi home owned by an assistant minister who served under retired President Mwai Kibaki is set to be auctioned to recover a Ksh70 million outstanding debt to a local bank.

    The double-storey home, which sits on a 0.4708-hectare parcel of land and has more than five bedrooms, was put on sale by Garam Investments Auctioneers and will be auctioned on January 28.

    Tarus served as Internal Security assistant minister in the Kibaki regime and was also Kenya's High Commissioner to Australia between 2009 and 2012.

    Former Internal Security minister Stephen Tarus whise Karen home was auctioned over a Ksh70 million outstanding debt

    Before his appointment as a diplomat, he had lost his re-election bid as Emgwen MP in 2007.

    Tarus had served as the area MP between 2003 and 2007.

    Business Daily on Tuesday, January 14, further reported that former Assistant Minister Stephen Tarus moved to court to block the auction.

    Tarus' wife, also moved to court in February 2019, to stop the auction, arguing that the house was her matrimonial home and she had not given consent to her husband to use it as security for the loan.

    The ex-minister joins a long list of prominent people whose homes and businesses are facing auction.

    In January 2020, former Cabinet Minister Gideon Ndambuki, moved to court to block the auction of Roof Garden Hotel, situated near Kenyatta Stadium, Machakos. Ndambuki served in the Planning and National Development docket during former President Daniel Arap Moi's regime.

    Jubilee Secretary General Raphael Tuju was on Tuesday, January 7, dealt a blow by the High Court after a multi-national bank was allowed to pursue Ksh1.4 billion from his restaurant over a loan default.

    Jacaranda Hotel, a four-star hotel located in Westlands, Nairobi owned by the family of the late Defence Minister Njenga Karume, was on Monday, January 6, also put up for auction. The franchise is set to be auctioned to facilitate the recovery of a Ksh 257.6 million loan owed to a bank.

    In 2019, former Nation FM and Kiss 100 presenter, Angela Angwenyi's, house was also put up for auction by Garam Auctioneers after her finances dwindled.

    Former minister Gideon Ndambuki at a press conference on November 8, 2011.