Liberty Afrika Technologies owner Sidney Wachira has sued PRISK CEO Dr Joseph Njagi over non-payment of a Sh2 million loan.
Sidney Wachira is also the proprietor of Goldrock, the company that owned and scammed Kenyans through the e-Citizen portal.
According to court documents, Mr Wachira lent Dr Njagi a sum of Sh2 million shillings on December 10th 2021.
The money was to be repaid on 28th February 2022, failure to which the loan would accrue more interest of 3.75% per month.
“It was a further term in the agreement that if the Defendant failed to repay the loan amount in full by the 28th February 2022 then amount would attract interest at the rate of 3.75% per month on a reducing balance,” the court document, civil suit number E189 of 2022 filed at the Milimani Commercial Courts, stated in part.
Dr Njagi would fail to pay the money by February and in July 2022, Mr Wachira entered into a new agreement where he accepted payments of Sh200k per month with effect from 6th November 2022.
Mr Wachira now wants the court to compel Dr Njagi to pay him Sh2.6 million as of November 2022, and a further amount calculated at 3.75% per month.
“REASONS WHEREOF the Plaintiff prays for judgment against the Defendant for: a) The sum of Kshs 2,000,000/= being the principal amount; b) Kes. 600,000/= being interest from 1st March, 2022 to 31st October, 2022; c) Further interest at the rate of 3.75% per month from 1st November 2022 until payment in full; d) Costs of the suit and interest at court rates,” the affidavit sworn by Sidney Wachira before Kiingati Ndirangu & Associates Advocates concluded.
The applicant shared the written loan agreement that he entered with the CEO of PRISK.
He also shared the WhatsAPP messages and minutes of meetings at the Liberty Afrika Technologies.
- Shadowy Goldrock Capital at the center of e-Citizen’s looting
- The e-Citizen Connection: How KECOBO is masterminding data theft for private gain
The messages on WhatsApp shows a man playing cat and mouse games with the other.
Liberty Afrika Technologies’ minutes unanimously resolved that the money should be paid.
Now it has turned into a court case.
It appears from this case that Dr Njagi has made it easy for PRISK to be targeted for extortion of data by both KECOBO and Liberty Afrika Technologies.
There was another case where KECOBO was sued by Tenacle Limited.
The Court’s sway on the side of KECOBO raised eyebrows as the copyright body granted Liberty Afrika Technologies the National Registry Rights (NRR) without due diligence.
Clearly, the courts were compromised
The music industry is a crime scene, thanks to KECOBO and Liberty Afrika.
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