Stephen Juma Ndeda in $52K Bulgarian Fraud Storm
Stephen Juma Ndeda, a Nairobi-based lawyer, has found himself at the centre of a high-stakes legal battle after being charged with money laundering and forgery in connection with an alleged attempt to dispose of over KSh 6.7 million. The funds, traced to a foreign company based in Bulgaria, are suspected to be proceeds of crime.
According to court documents, Stephen Juma Ndeda is accused of executing a suspicious financial transaction involving USD 52,490 (approximately KSh 6,797,455) through an account registered to his law firm, Ndeda & Company Advocates. The transaction reportedly took place at UBA Kenya Bank’s Upper Hill branch in Nairobi on June 20, 2023.
Authorities claim that the money originated from a Bulgarian company identified as Algans Eood and that Ndeda knowingly attempted to conceal and dispose of the funds, despite having reason to believe they were unlawfully acquired.
But the legal trouble doesn't stop there.
In a separate but related charge, Stephen Juma Ndeda is accused of forging a land sale agreement for property parcel number KJD/KEEKONYOKIE/ILKISUMET/3371. The forged document falsely listed Andrew Immanuel Simiyu as the vendor and Algans Limited as the purchaser. Stephen Juma Ndeda Investigators allege the forged agreement was drafted at Ndeda & Company Advocates’ office at View Park Towers, Nairobi, around June 14, 2023, with the clear intention to defraud.
Adding to the charges, Ndeda also allegedly uttered the forged sale agreement to one Calvin Gwaro Nyamwange at UBA Bank during the same transaction on June 20, 2023.
Appearing before Senior Principal Magistrate Boaz Ombewa, Stephen Juma Ndeda pleaded not guilty to all charges. The court granted him a cash bail of KSh 700,000 pending further proceedings.
