Jane Wangechi Kabiu, a company secretary facing criminal charges alongside two sons of former Attorney-General James Boro Karugu, has asked the court to review her Ksh700,000 cash bail, arguing that the case largely concerns a company share valued at only Ksh100.
Kabiu, who is the proprietor of Optimum Registrars, is accused of conspiracy to defraud, forgery and giving false information in connection with the alleged transfer of a company share belonging to Victoria Nyambura Karugu.
The case has placed her professional role under scrutiny because company secretaries are expected to ensure that corporate records and documents presented to authorities are properly prepared and supported.
In her application seeking a review of the bail terms, Kabiu has focused on the Ksh100 nominal value attached to the disputed share. She argues that the amount involved does not justify the Ksh700,000 cash bail imposed on her.
However, the prosecution’s case goes beyond the monetary value written against the share.
The State alleges that Kabiu, Eric Mwaura Karugu and Benjamin Githara Karugu were involved in a conspiracy to defraud Victoria Nyambura Karugu by transferring her ordinary share to Centurion Holdings Limited.
The main issue before the court is therefore not simply how much the share was worth on paper. It is whether the transfer was legally authorised and whether documents used to complete the transaction were genuine.
According to the charges, Kabiu is accused of knowingly presenting a false Share Transfer Form as a genuine document belonging to Victoria Nyambura Karugu. The document was allegedly presented to the Director General of Business Registration Services as part of the process of transferring the disputed interest to Centurion Holdings Limited.
The allegations are significant because a company’s ownership records depend on accurate documents and proper authorisation.
Share transfer forms, registers and other statutory filings are used to establish who legally owns shares in a company.
Any dispute over the authenticity of such documents can therefore have consequences beyond the nominal value indicated on a share certificate or transfer document.
Kabiu’s position as a company secretary also places her at an important point in the corporate filing process. The prosecution’s allegations directly concern her alleged role in handling and presenting the disputed documents. She has not been convicted, and the allegations against her remain matters for determination by the court.
The Ksh100 argument also does not, by itself, establish the actual economic value of the interest that was allegedly transferred.
A share can have a nominal value that is different from the wider value of the ownership rights attached to it.
The application therefore does not settle the question of what Victoria Nyambura Karugu may have stood to lose if the alleged transfer was unlawful.
The case has also drawn attention because Kabiu has previously been mentioned in separate allegations surrounding the purported Will and Trust of the late James Karugu.
Those allegations involve several other individuals, including lawyer Peter Gachuhi of Kaplan and Stratton, Eric Mwaura Karugu, lawyer Kimani Richu, Eliud Gatambia and Joshua Kimani of Full Gospel Churches of Kenya in Kinangop.
The Will and Trust allegations are separate from the current criminal charges concerning the disputed company share.
They should therefore not be treated as proof of wrongdoing in the present case. However, their mention has added to questions surrounding documents linked to the Karugu family’s business and estate affairs.
For now, the court will have to consider Kabiu’s request to have her bail terms reviewed while the criminal proceedings continue.
The central questions in the case remain whether the disputed share transfer was properly authorised, whether the documents used were genuine and whether the accused persons participated in the alleged conspiracy.
The Ksh100 value of the share may form part of Kabiu’s argument on bail, but the criminal case itself is focused on the alleged use of false documents and the disputed transfer of ownership.
Those allegations will ultimately have to be tested through evidence before the court.
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