If Paul of the Bible were alive today, he would repeat to Bettie Nanga, a devout Christian of the Nairobi Pentecostal Church, his word to Ephesians on being blown away by every good thing that comes her way.
In Ephesians 4:14, Paul wrote to the Ephesus church that they were no longer infants, tossed back and forth by the waves, and blown here and there by every wind of teaching and by the cunning and craftiness of people in their deceitful scheming.
In his text, Paul had foreseen there would be likes of Ms Nanga, who would believe every word from God’s house, forgetting that God and money do not mix, and that love of money is the root of all evil.
Sometime in August 1997, Nanga attended her church as was the routine, hoping to meet God and men and maybe pour her heart's desires. From the court’s record, she must have been praying for earthly riches, and an opportunity showed up.
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During the service, the pastor invited Simon Oloo, a church elder, to make a presentation on 'prosperity and investment in the business in a godly way'.
Armed with a brochure entitled 'Investment in Shares by God’s People', the elder made a very enticing case to those willing to invest in shares in his stock brokerage company.
“Investment in the stock and shares is least understood by many Christians, non-Christians in Kenya and elsewhere in the world. They think it’s a domain for the rich. So they end up remaining poor and put their money in a business that have very high failure rates,” Oloo’s brochure read in part.
That sermon by Oloo must have impressed and enticed Nanga, and not just her, but also many others. Sammy Mugandi and his wife Margaret, and Wesley Agina were also sold the investment idea by Oloo.
Nanga was swayed to the core and invested Sh1.5 million from a loan she took, but the aftermath was hell on earth.
From a judgement by Justice Mary Kasango (pictured), Oloo duped Nanga into signing documents, which in the end guaranteed his firm - Simlo Limited - a loan with Middle East Africa Bank.
The charging document was signed at Esmail & Esmail advocates, a law firm run by director and chairman of the bank, Akber Abdullahi Kassam Esmail.
Justice Kasango found it was improper for the senior lawyer not to explain to Nanga that she was signing away her property.
“The bank cannot, as it wishes to do, run away from the fact that Oloo used his position in the church that Nanga attended and the fact that it gave Oloo free rein to usher around them, who were to be guarantors of his venture and in that way used his influence to get her and others to sign blank documents which were used to secure Simlo’s indebtedness. I disapprove of Esmail’s response to a question when he said if Simlo did something wrong what has that got to do with me,” the judge observed.
“I would respond by saying that it has everything to do with the bank. The very reason why the bank and Esmail should have ensured Nanga obtained independent advice and should have ensured that she was explained the effects of signing the letter of guarantee and the charge. It is also troubling that Esmail is director and chairman of the bank and is a member of the bank’s board of Credit Committee. The very committee which needed to ensure the bank was well secured in respect to the indebtedness of Simlo.”
In June 1997, Simlo Enterprises had an overdraft facility of Sh1.8 million. In June or early July, Simlo requested the bank for the additional facility of Sh3.5 million, which would bring his aggregate facility to Sh5.3 million. The firm offered among other things, Nanga’s property.
Sat pretty
She sat pretty knowing the money would come from her investment but on January 14, 1998, she got a letter from the bank demanding Sh5.3 million from her. On December 13, 1998, she got an auction notice.
The bank complained that it had nothing to do with her problems as she had knowingly guaranteed Simlo.
But it was not only her who had signed the document but Sammy and his wife Margaret. Sammy told the court Oloo was a family friend and an elder but he put him in the same trap. His property was to be auctioned too.
The judge blocked the bank from selling Nanga’s property in Mugoya South C, Nairobi and ordered it returns her title.
