Complaint Review: Property Reality Company

PRC, the company styling itself as selling land together with exaggerated projected earnings in green-houses is caught in the eye of the storm after several complaints were received at Cofek.

Among the notable PRC directors are the former Institute of Certified Public Accountants of Kenya (ICPAK) Chairman Mr Steve Lugalia and former long serving Kiss FM presenter Ms Caroline Mutoko (pictured above).

Nearly all complainants cite the company, like many other property firms, adversely on over-delayed and in many cases refusal to grant refunds - following breach.

The company ran into huge fame when it advertised on the popular week-day morning shows on Classic 105 FM and NTV’s Churchill Show program.

The Churchill show is run by Daniel Ndambuki also known as Mwalim Churchill who co-hosts the Classic FM morning shows with celebrity Classic FM radio presenter Maina Kageni.

Sample one of the complaints received. Note that the complainant has been chasing refunds after PRC breached contract - for over a year - and with accruing loan financing.

“Last year I heard an advertisement through Maina Kageni Classic FM show to buy plots and greenhouse at Aberdare-3. I reached out to them and after doing research of the firm, I was comfortable enough to buy 3 plots and 3 greenhouses investing in a total of Sh1,647,000.

The promise was to earn 250,000 for half year per greenhouse. Six months later, we were expecting the first pay and they had not started. No title. I requested for a refund because the contract was breached and they started taking me round in circles with funny excuses like they were being audited.

It has been 1 year of painfully paying for a loan which am struggling with yet the company is existing and making profits. It is painful to see the CEO of that company do a weeding of 1million dollars while my refund cannot be paid. Who can help me get justice. Am really desperate.” 

A Cofek tweet to PRC @prcreality), Ndambuki and Kageni has not been answered. Cofek calls to PRC automated lines, as indicated on their website, went unanswered.

PRC board of directors, as per its’ website, includes; Brian G. Ngunyi (Chairman); Caroline J. Waiyaki - Head of the HR & Legal Board Committee; David Mugun - Member of the Audit & Risk Board Committee; Dr Fred Ogola - Head of the Finance, Strategy & Investment Board Committee and Ronnie Gacari - Member of the HR and Legal Board Committee;

Others are Caroline Mutoko - Member of the Finance, Strategy & Investment Board Committee and Steve Lugalia- Head of the Audit & Risk Board Committee.

Cofek will continue reviewing other complaints and thereafter write to PRC to show cause why a class action suit should not be commenced against the company.

Meanwhile we encourage others with similar complaints to write to: hotline@cofek.co. ke 

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