The directors of Banda Homes, a company that has changed its identity several times (i.e. Lettas Developers; Lettas Buy & Build) to avoid accountability, have received a demand letter from the investors.
Mr. Andrew Kamau Muhiu and Paul Wanjohi Nderitu were given up to last Friday, 19th, September, 2019 to refund the monies owed to the investors whose projects have delayed to complete as scheduled.
The projects which are located in Witeithie, 4 kilometres off Thika Road, namely Ridges 2, Ridges 3 and Umoja 1 estates have delayed beyond the comfort of the investors. The company irked the investors by extending the deadlines which were never met.
Through their lawyer, Wandeto & Company Advocates, Commissioner for Oaths and Notaries Public, the investors are accusing Banda Homes of using tricks, through deceptive marketing, to lure buyers then later change and start another project without completing the first one. They also complain that the directors live a lavish life, driving top-of-the-range vehicles; which must be from their hard-earned monies.
The investors were getting updates about the progress of the projects which they have invested in through a WhatsAPP group opened by the directors, but after demanding to know why they have delayed, the company shut down the WhatsAPP groups. Currently when a client asks about their project’s progress they are told to ask on the Facebook platform which has been inactive.
The directors are not acting like crooks, they are crooks who swindle unsuspecting investors with new fanciful projects which end up nowhere.
‘OUR CLIENTS now believe that Lettas Developers Limited, its directors Mr. Andrew Kamau Muhiu and Mr. Paul Wanjohi Nderitu and its staff are perpetuating a scam to defraud them off their hard-earned savings. They are anxious that their money may have been diverted to other projects, either those later launched by Lettas Developers or Banda Homes’, part of the demand letter read.
Presssure from the investors made the company use many tactics to calm them down including misinformation. At one point in the project’s WhatsAPP group, the directors communicated that they ‘are giving preference to to the units that have been fully paid for’.
That communication had a confirmed project completion and hand over date which also came and went without much.
The stategy of changing the groundmen/contractors and the sales people/customer service at the firm became a new tool of deception. The investors became aware of that.
The Three Estates In Contention
- Ridges 3 Project’s completion was December 2017, it later changed to February 2018. Not completed to date.
- Ridges 2 Project’s completion date was December 2017, it later changed to July 2018, then January 2019 and later April 2019. Not completed to date.
- Umoja 1 Estate: The script is the same as above. The project too remains incomplete.
The investors now believe that Lettas Developers’s motto of delivering Decent houses, at the most AFFORDABLE cost within SHORTEST time possible ‘is nothing but a lie and a scam’,
The personal anguish to the investors is high and thus they demanded a full refund of their monies within the next 14 days, which expired 19th September, 2019. Lettas was also told that if they complete the estates within the 14 days, they’ll get off the hook.
The investors have also started lodging complaints with the investgatove agencies, ‘because the era of playing deceitful games with the hard-earned cash and livelihoods of Kenya is long gone’, the letter consluded.