In an unbelievable turn of events, the once praised youngest Kenyan Billionaire has fallen from grace to grass even though he is still a billionaire. This comes about as a number of his “investments” have been exposed as a hoax.
The first to respond was the local airline light 540. The airline has since come out strongly denying any links with Steve Mbogo .In an email to Nairobi news Don Smith, owner and chief executive of flight 540 said that he has nothing to do with Mr. Mbogo, and is even in the process of suing him for the claims. He added that before the claims, he had never heard of Steve Mbogo before.
However the drama did not end there as now Faulu Microfinance Bank Limited has come out, claiming it has no dealings with the ‘entrepreneur’. In a letter to citizen digital, MD of Faulu Bank Mr. Charles Njuguna stated “Mr. Steve Mbogo has never served as Board Member or Chairman at Faulu Bank and neither do we have any affiliation”. This comes after Mr. Mbogo in an interview claimed that he sits on the board. Below is the said letter of them denying Mr. Mbogo.
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