Jamii Bora Bank denies involvement in Sh50 million land fraud

German businessman Paul Urbaan Aime Verleysen in Mombasa Law Courts where he accused Jamii Bora Bank, Samchi Telecommunication Limited, The Lands Registry in Kwale, John Miana Njoroge, and Abdalla Kombo Abdalla of colluding to fraudulently acquire his 2.8 hectares piece of land in Msambweni, Kwale County valued at Sh50 million [Joackim Bwana/Standard]

Jamii Bora Bank has denied involvement in the acquisition and sale of a 2.8 hectare parcel of land in Msambweni, Kwale County, valued at Sh50 million in 2013.

Paul Urbaan Aime Verleysen, a German businessman who claims to be the owner of the property, accused the bank of advancing a Sh50 million loan to Samchi Telecommunications Ltd despite knowing that the title given as security was unlawfully acquired by the communication firm.