Gladdens Homes director charged over Ksh28m housing fraud scheme
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Bildad Nzuki Wambua, a director of Gladdens Homes Limited, has been charged over an alleged housing fraud scheme in which 22 victims are reported to have lost Ksh28 million.
Bildad Nzuki Wambua, director of Gladdens Homes Limited, has been charged in connection with an alleged housing fraud scheme in which 22 victims are reported to have lost Ksh28 million, Citizen Digital reports.
Wambua was arraigned at Madaraka Law Courts on September 2, 2026, and charged with multiple counts of obtaining money by false pretenses, contrary to Section 313 of the Penal Code, alongside money laundering charges.
According to the charges, the accused allegedly targeted members of the public with promises of houses of varying designs on land title number Nairobi/Block A 40/474, purportedly under the Urban Housing Renewable Development LLP project. The alleged victims made payments through Gladdens Homes Agency, a privately registered entity associated with Wambua.
The prosecution opposed Wambua's release on bond, with a ruling on the matter set for September 3, 2026. The case has been scheduled for mention on October 15, 2026.
The Directorate of Criminal Investigations (DCI) has urged members of the public who entered into similar transactions with Wambua or Gladdens Homes Agency and believe they may have been defrauded to report to DCI offices in Starehe Sub-County.
The case comes against wider concern over fraud in Kenya's real estate sector. In 2025, the Institution of Surveyors of Kenya called on government agencies to cancel the licences of unregistered firms operating in the property market, noting the sector was valued at about Ksh1.12 trillion and contributed 8.4 per cent of Kenya's GDP in 2024.