James Muigai Ngengi alias Jahmay is a well-known notorious character in Nairobi social circles, as the owner of “The Hood” restaurant which is situated somewhere behind Chaka Place in Hurlingham. However, the BCLB having already issued a gaming license to MGL through its then Director, James Muigai Ngengi, a cousin to President Uhuru Kenyatta, fully expected that MGL was a stand-alone, brand new venture, and without knowing that the shareholding in the company had changed or that this would be the company that would be fronting the Sportpesa brand. In a classic case of hop-skip-jump, these two posers (Karauri and Kiarie) were now the majority shareholders in a company (Selenium) that owned majority shareholding in MGL, and that had transferred Sportpesa over to themselves in the process. The acrimonious and brazenly hostile takeover of the Sportpesa brand was meant to disenfranchise its 2 biggest local shareholders (Paul Wanderi Ndungu on one hand and Asenath Wacera ) and Ronald Karauri (57%) who had 300 and 400 shares issued to them out of 10,000 shares available. Previously, Ronald Karauri and Francis Kiarie owned a mere 6% and 1% shares in Pevans (EA) Ltd, making them minority shareholders in the company that owned Sportpesa, without veto power. Fact: Some Directors of Pevans (EA) Ltd (PEAL), the company that owns the SPORTPESA brand, secretly arranged to move the gaming business and ownership of Sportpesa to another company by the name Milestones Gaming Ltd (MGL), which they co-own with members of the Kenyatta family.
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