If you are moneyed, have a bevy of beauties and roll in expensive rides you automatically become a flamboyant businessman, atleast according to Kenyan journalists. Even with the vast resources at their disposal, journalists with mainstream media will not dig deeper to find out the source of this wealth, or, one can assume, they are compromised by the new clique of rich kids on the blog. This past few days have been revealing. These so-called flamboyant businessmen-working in cohorts with politicians- have been outed as frauds. And they have no boundaries. The fraudsters, who pass themselves as the new breed of entrepreneur, duped the UAE vice president and Prime minister Sheikh Mohammed bin Rashid Al Maktoum into buying fake nonexistent gold. Self-proclaimed billionaire Steve Mbogo perfectly fits this categorization.
Businesses owned by Steve Mbogo
In an interview carried on Nairobian three years ago, Mr Mbogo claimed that he owned 16 planes. He went on to tell the publication that he was into commodities trading and real estate.
Mbogo claimed to own “two mining concessions in Kenya, one in DRC and another in Tanzania”. He however declined to give the name of his aviation company saying that “his partners are uncomfortable with publicity.”
His other interests
Owns Della wine estate
Owns 12 4-star hotels
Thirty two apartment blocks in Nairobi
Two Insurance apartments in Uganda
6 night clubs in Nakuru
Flight training academy at Wilson Airport
Manages two law firms and three stock brokerage companies at the Nairobi Securities Exchange
Was one of the developers of Mimosa Golf Club
And Kenyans, who glorify wealth regardless of its source, continued to be fed with Mbogo’s lies perpetrated by the media. He said he holds the following positions:
Chairman and Chief Executive Officer of luxury goods company Capital Flow Enterprises.
Non-Executive Chair of Fly 540 Airways and Youth Aviation Company Kenya
Board Chairman-Faulu Bank
Fly540 and Faulu Bank came out gun blazing after learning the ‘billionaire businessman’ was making outlandish claims that he was serving as a member of their respective boards of directors.
House in Karen
The former Starehe MP aspirant continued spinning make-believe stories to elevate his status in a country where the rich are revered. The ‘businessman’ claimed he bought his Karen House for Ksh500 million. He told SDE:
“My house in Karen sits on five acres. Where in Nairobi can you rent a house sitting on five acres for such a small amount? I bought the house two years ago for Sh500 million….”
This did not impress his landlord who had to clarify that Mr Mbogo was just a tenant. He told the Star:
“Steve Mbogo doesn’t own that house, nor has he bought it, he is a tenant. The sad thing about all this is that the person entrusted with the property is at pains to explain to the family how he can sell the property without their permission. Yet that is not the case. He is a tenant who pays Sh450,000 a month..”
Controversial no holds barred Nation columnist summed it all in her article titled Steve Mbogo is a fraud, not billionaire. Part of her hard-hitting article reads:
It is absolutely ridiculous that editors would waste newsroom resources to send reporters and cameramen to meet this deluded loser at the airport coming from Abu Dhabi. In the usual media fashion, we have allowed ourselves to be used by a ne’er do well to promote his fake ideals with acres of coverage, all for free.
Cars he owns
Land Cruisers VX-3
Rolls Royce Phantom
Bachelor of Business Administration degree from Cairo University School of Business
Masters of Business Administration from the University of South Australia
The above information cannot be independently verified.
His name has been mentioned in gold scam cases. His name appears on Zengold.com-a platform for gold buyers and sellers-as a scammer who cons foreigners with the full knowledge of the authorities. Early last year, Steve Mbogo was arraigned in court with two other suspects in connection with a gold scam in which a Dubai businessman Sayeed Mohammed Altaf was conned $1 million (ksh102.5 million).
His high end fuel guzzlers have in the past been impounded by the DCI over tax evasion.
Married to Sabrina Jamal
The couple is blessed with two daughters
Steve Mbogo net worth
The politician claims to have a net worth of ksh13 billion.