Our services have been retained by one Ms. Maureen Doreen Kaari Karimi, on whose instructions we wish to address you as follows.

At all material times, our client has been your customer at Equity Bank Limited, OTC branch. Our client had a mortgage charged to the above mentioned property: a first legal charge dated 13th July 2010 for Kenya shillings Four Million, six Hundred and Ninety Thousand (4,690,000/-) and further charged dated 9th December 2013 of Kenya Shillings Two Million, Six Hundred and Sixty Thousand (2,660,000/-).

Our client also runs business, hardware, at OTC, in the name and style of Vergos General Suppliers. The said business was servicing the loan at a monthly installment of Kenya shillings Ninety Five Thousand (95,000/-) due to the ‘increase in interest rates at the banking industry’

Later in 2014, by invitation of the credit Manager, OTC Branch, our client was misled to merge both the loan and mortgage and pay them concurrently at a rate of Kenya Shillings Two hundred and Seventy Three Thousand (273,000/-).

On advise that it will compress her payment period for ten (10) years to three (3) years and that it will decrease the rate of the mortgage interest.


Relying on the information our client started paying the loan and mortgage at the new interest rate, and in order to complete the payments within a short period, this arrangement caused and forced her to withdraw a lot of capital from her business - which was her sole source of income and son after the business was unable to sustain repayments from profit and the liquidity drastically reduced leading to frustration, this made her fail into arrears in meeting the loan and her other financial obligations.

It is our client contention that the credit manager misadvised her and direction taken of converting a mortgage onto a loan and reducing the repayment period from 10years to 3 was not done in good faith, it was not based on professional assessment of our client’s financial ability and was in any event a calculated move by your staff to misrepresent, mislead and defraud our client. With a view of our client defaulting and having her house given as a reward to her colleagues.

As stated above in fulfillment of the conspiracy. Due to the heavy financial constrains and burden, our client was at no position and hence became unable to service her loan. She made several attempts to reach the credit manager and your OTC Branch to be able to review the installment and or revert to the mortgage but she was not attended to nor her proposal considered. We hold in our custody several letters and communications that have been sent to the OTC Branch and none of which has elicited any response.

The non-payment led the Bank to purport to redeem her property which she had placed as security as earlier stated. The Bank indicated that they would redeem the said property via exercise of their statutory power of sale by way of private sale or public auction in order for them to recover their entire amount advanced and the interests that had accrued over the period.


On the 15th December 2016, through Antic Auctioneers the said property was purportedly irregularly and illegally sold our client’s house to a private company known as Simjam Logistics Limited. The directorship is made up of four (4) directors, and one of them, Mr. Stephen Gichohi Gichuhi, who is believed to be a Branch Manager at Equity Bank, Upper hill branch.

This move is not only illegal but also criminal and unethical as it considered as Insider Trading. The alleged buyer has affected transfer and has now required our client through its advocate to give vacant possession, which position is unacceptable in the circumstances.

We opine that your execution of the mandate to sale the property, as you are aware should be in compliance with section 96 all through to selection 100 of the Land Act, 2012, in regards to the exercise of your statutory power of sale and its nature, which in contrary to our actions as explained above.

Our client holds the view that whereas it is acknowledged and it is within your knowledge that our client has tried to look for a solution to this dilemma, created by your own staff and your office, you are not keen to assist our client, and are on a mission to frustrate her for reasons whereof can only be speculated.

We note with concern that in furtherance to the above, on or about 24th February 2017, our client was summoned to kamukunji police station on allegations that she has threatened to kill the Credit Manager, Equity Bank, OTC Branch. These allegations are unsubstantiated and are made I attempt to continue suppressing, threatening and frustrating our client who is to further attend before the DCI kamukunji on 6th march 2017 at 10.00am to notify her on progress of investigations.

Our instructions are now to make request to you to take up the following measures;

  1. Acknowledge the existence of a consumer relationship between our client and yourselves;
  2. Acknowledge the misrepresentation, misleading and defrauding attempts made to our client;
  • Acknowledge the sale irregular and void the same transaction;
  1. Transfer the property back to our client;
  2. Review the interest rates and installments for our client;
  3. Withdraw the complaint by the Credit Manager from kamukunji police station;
  • Investigate the Credit Manager and the said manager and stern measures to be taken upon them on conclusion of the investigation; and
  • Issue an apology to our client for the inconvenience, embarrassment, and suffering caused to her for the misrepresentation, insider trading and criminal allegations against her in regards to this property.

We shall be willing to discuss this matter with your appointed representatives with a view of finding a lasting solution to this matter.

PLEASE TAKE NOTE THAT should we not hear from you within FOURTEEN (14) days from the date of this letter, we are under instructions to take all necessary steps to reparate our client which may include but not limited to, publication, institution of proceedings both civil and criminal against your officers for neglecting duty and abdication of responsibility and attend costs shall be on you in any event.

Be advised accordingly. Yours faithfully,

For: OMARIBA & COMPANY ADVOCATES.

Cofek Note: We will publish the Equity Bank's reply as soon as we receive it

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