Disgruntled Partner Sues Centum’s CEO James Mworia For Defamation

In a civil case number HCCC/E032/2022, Raisin Limited has sued Centum’s CEO James Mwirigi Mworia for defamation following his claims to the media on a Sh.17B investment standoff between the two firms.

Raisin Limited, an upcoming financial consultancy firm helped Centum Real Estate to raise Sh17 billion through the issuance of new shares. Raisin in deal with Centum, was assured of a share of the money. However, Centum went against their word, it was silent until when the news broke out on alleged shortchanging. The  investment company quickly refuted the claims labeling Raisin Ltd as airing baseless accusations and being extortionist.

Raisin Limited insists it had entered an agreement with the real estate firm on June 17, 2021 where Raisin would source for investors and would receive a commission of two percent of all funds raised.

In a rebuttal to the claims of being shortchanged, Centum’s CEO James Mworia told the media that it was all an extortionist ploy by the consultancy firm.

“We are not aware of such agreement. Let the one making the claim give you correspondences to the same. This may just be someone trying to extort Centum using the media,” Centum Investment CEO James Mworia said.

Mworia added; “I personally took charge of the negotiations of the deal and was not aware of any other party involved. Because we secured the funding, someone now wants to come and claim he had a role in the deal. That’s an imposter.”

Raisin lawyers DBM Mosota wrote to Centum in January 17 with the demands, saying it sourced for investors and introduced Global Emerging Markets (GEM) to Centum.

“In blatant breach of clause seven of the agreement, your company through its sole Shareholder and directors circumvented the terms of the agreement and commenced negotiations with GEM leading to execution of an investment agreement of Sh17 billion between Global Yield LLC under GEM and Centum Real Estate Limited,” read the letter in part.

“Our client was appalled when they read your highly defamatory statement in relation to our client. The statement, which is prima facie defamatory, is reproduced below, verbatim, for ease of reference: “…yesterday, Centum denied the existence of such agreement and warned against what it called ‘extortion’ ploy..”we are not aware of such agreement. Let the one making the claim give you correct correspondences to the same. This may be just someone trying to extort Centum using the media… I personally took charge of the negotiations of the deal and was not aware of any other party involved. Because we secured funding, someone now wants to come and claim he had a role in the deal. That is an imposter’’ reads the letter from Mr Mosota.

Raisin Limited is still insisting on the payment that’s morally owed to them by Centum and Mworia’s stiffness is adding up more obstacles to the debacle.

Kenya Insights reached out to Chris Brown the proprietor of Global Emerging Markets (GEM) and the main investor in the scandalous deal. However, by the time of publishing this story, he was yet to respond to the writer.