NAIROBI, Kenya- Businessman Eliud Wachira Limuyu, also known as Eliud Wachira Gilisho, has been released on Sh5 million cash bail after denying a charge of stealing Sh122 million from NovoGames International Limited.
The Milimani Law Courts also allowed him to be released on a Sh10 million bond with two sureties, each providing Sh500,000.
The court ordered him to surrender his passport and set the pre-trial hearing for November 10, 2026, according to a report on the court proceedings.
A charge sheet seen by Y News states that the alleged theft took place in Nairobi between September 18, 2020, and March 25, 2024, when Wachira was a director of NovoGames.
It describes the money as company property that came into his possession through his employment.
Wachira was arrested on October 19 and appeared in court on October 21, where he denied the charge.
Letter to DCI details Ketter’s allegations
The charge follows a letter addressed to the Directorate of Criminal Investigations by NovoGames chief executive Tony Ketter.
The letter, seen by Y News, outlines the allegations that led to the complaint against Wachira.
Ketter says he and his son, Anthony Ketter, co-founded NovoGames with Wachira in late 2020.
The company was set up to develop multiplayer games in which players placed wagers and winners received the pooled stake.
In the letter, Ketter says he financed much of the company’s operations, including product development, travel and accommodation.
He also cites a USD70,000 contribution from a US-based investor in 2024 and estimates that total investment in the venture reached about USD2 million.
Ketter alleges that expenses were fabricated and financial records manipulated to divert funds.
He cites a trip Wachira allegedly made to India to recruit game developers, claiming the developers received less than USD40,000 despite higher expenditure claims over several years.
The letter also accuses Wachira of using false digital communications and online identities to impersonate public figures, including French President Emmanuel Macron, businessman Bernard Arnault, actress Alicia Vikander and industrialist Aliko Dangote.
Ketter asked the DCI to investigate the alleged financial misappropriation, falsified records and impersonation.
The Sh122 million alleged theft is the charge currently before the court. The claims in Ketter’s letter remain allegations and have not been established in court.
The letter says Ketter is prepared to provide company registration documents, financial records, transfer confirmations, communications and statements from investors and vendors.
Wachira has denied the charge.
The case is scheduled for pre-trial on November 10 as the court process continues.
