Apparently having passed away, does not stop trouble from following one as it has emerged that the late Nicholas Biwott, powerful Minister from Daniel Moi’s era, has been dragged into a Ksh7 billion suit.
Reports by Daily Nation indicate that Barnabas arap Kiprono, a businessman based in Eldoret, is seeking an estimated Ksh7 billion from Biwott’s estate.
The man claims he loaned the former powerful Cabinet minister a total of Ksh382 million in bits between November 2015 and September 2016.
In his affidavit, the businessman indicated that the amount has since risen to Ksh6.7 billion inclusive of interest.
Kiprono reportedly gave Biwott, who died in July 2017, the first loan of Ksh50 million on November 5, 2015 at an interest rate of 25 percent.
On December 11, 2015, he allegedly gave him Ksh35 million at an interest rate of 30 per cent.
In 2016, he allegedly loaned Biwott Ksh10 million on January 9 at an interest of 30 percent and Ksh2 million at a similar rate on February 20.
Again on March 29, he loaned the former Minister Ksh280 million at an interest rate of 18 percent and the last loan of September 2, 2019 where Ksh5 million was lent out at an interest rate of 30 percent.
Kiprono now wants Biwott’s estate under the management of Desterio Andadi Oyatsi, Kenneth Hamish Wooler Keith and Elizabeth Klem to settle the debt.
Although Kiprono is demanding Ksh6.7 billion, he noted that Biwott’s net value upon his death was Ksh1.4 billion adding that he had not received a single coin from the Minister by the time of his death.