A German national has come forward with allegations of fraud against a prominent Kenyan businesswoman and politician. Uwe Heinz Odenthal claims he was deceived out of €1 million (approximately Sh142 million) in a petroleum investment scheme that promised substantial returns.
The deal, which was struck in early 2023, involved Trojan Six Oil 2019 Ltd, a company in which city politician Agnes Kagure – a former Nairobi gubernatorial candidate, allegedly plays a significant role.
Odenthal asserts that he was enticed by the prospect of annual dividends amounting to 30% of his invested capital, about Sh42 million annually.
“I feel cheated, stolen from, and defrauded,” Odenthal stated in a report filed with the Directorate of Criminal Investigations (DCI). The German investor disclosed that he had taken out a €500,000 loan from a bank in his home country to finance part of the investment, a debt he now struggles to service.
The saga began in November 2022 when Odenthal was introduced to the investment opportunity by his friend and fellow German national, Jurgen Haese, who claimed to have already invested €2.5 million in the venture. Haese’s Kenyan wife, Rose Kirimi, reportedly facilitated an introduction to Kagure.
After initial hesitation, Odenthal agreed to invest €1 million, transferring the funds in three installments between January and May 2023. The transfers were made to a law firm that was presented as the designated recipient for investor funds.
Odenthal’s suspicions were aroused when he was allegedly rushed into signing contracts without being allowed to read them thoroughly. “Don’t you trust us?” he recalls being asked by Joseph Mwai Nderitu, another figure involved in the company.
Attempts by the Nation reach Kagure for comment have been unsuccessful.
The controversy has cast a shadow over Trojan Six Oil 2019 Ltd, a company in which Kagure, Said Mohamed Farah, and Franklin Were Juma are listed as directors, according to records from the Business Registration Service. Joseph Mwai Nderitu and Kinyua Mwangi are registered as the only shareholders, each holding 500 shares.
When contacted, Nderitu distanced himself from the company’s operations, directing inquiries to Kagure. “It’s not all directors who deal with (day-to-day operations of) Trojan Six. Get in touch with the other director,” he stated.
Odenthal is urging the DCI to investigate the company and its directors, hoping this action will lead to the refund of his investment with interest at prevailing bank rates.
