The standard media group has deleted an article that detailed how Auctioneers had camped at former Peter Kenneth’s running mate, ready to auction his house valued at ksh. 10 Million.
According to the standard digital in an article that has been pulled down, the former youth fund boss has fallen in trouble with auctioneers seeking to sell his home in Athi River, Machakos County.
The standard online edition had indicated that Valley Auctioneers had already attached the four-bedroom house in the middle-income neighbourhood and invited bidders in a sale scheduled for September 19. The editor of this site has confirmed and verified the auction to be true, raising eyebrows as to why the article was pulled down.
" While the auctioneers have not indicated the reserve price for the property, guiding rates for the area place the estimate at just about Sh10 million. Osumba, who served as the chairman of the Youth Enterprise Development Fund, is listed as the joint owner of the property alongside Vera Akinyi Ogundu" The online edition had indicated.
" He left the helm of the affirmative credit provider just two months ago after the expiry of his contract where he helped increase loan repayments to 88 per cent in his final year. No explanation was provided for the property seizure and the expected auction but is a pointer to financial distress often associated with a borrower inability to service loans. It is either the property was bought on mortgage and the repayments are now running behind schedule, or the house was collateralized as security for another loan. He now joins a growing list of distressed borrowers whose property is being foreclosed, in a broader indication of a struggling economy" read part of the now-deleted article
Ronnie Osumba is a good friend to Standard media group’s managing editor, digital Carole Kimutai and it seems he called her to direct her team to delete the article.
Standard Media group where the Moi Family has a majority of shares has many bosses from a community who run the media house as a family business. Standard Digital has been ranked among the top sites in fake news.
