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Businessman in shock after two of his employees steal company from him after forging documents

Businessman in shock after two of his employees steal his company from him after forging ownership documents.

A businessman in Bungoma County sought justice after learning that two of his employees allegedly used fraudulent paperwork to acquire ownership of the hydropower company he and five other people founded.

The businessman claims that the two exploited his illness to drive him and his business partners out of the Mt Elgon-based company.

The man said to the press that although his business partners had given up on the case, he was unrelenting in his pursuit of justice.

“The people took advantage of my health condition and decided to take the company for themselves,” he narrated on Saturday, December 18, in an interview with TV47

He added that while he was sick and resting, some of his partners passed away, and the two employees changed the directorship of the company. 

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His family reportedly brought him up to speed on the developments when he recovered. 

He regretted that the other company partners had given up investigating the situation since it was so complicated.

He noted improvement, though, and vowed to be obstinate in reclaiming the business.

“As we speak, the people who fraudulently took over the company have been arrested,” he claimed in the interview with TV47

The company in Mt Elgon was expected to tap into the market and produce electricity to benefit the locals.

According to the Companies Act 2015, before changing the director of a company, the initial director needs to resign through an official letter, be declared bankrupt, be dismissed from office, become afflicted with a mental illness, or be unable to serve on the board of directors.

Some of the requirements for changing the directors include a resignation letter(s) from the director(s), an Affidavit of Resignation, and the company minutes of when the director(s) quit.

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