Nathan Lloyd, the Managing Director of the DN International; a real estate development company, has been put behind the bars by the National Police over allegations of swindling client’s money.
Lloyd had earlier received sums of money from 19 people who bought houses at Hill View Estate located at Kabuga, Kigali city suburb at a cost of Rwf55m, developed by DN International at loan acquired from Fina Bank.
He therefore, never produced required documents to his clients as promised, National Police reports.
Police spokesperson Supt. Theos Badege in a statement noted; “Those who bought houses will lose their money. It’s a swindling case because the company used fraudulent means to get the money from the victims promising to give them their tittles and keys immediately after payment, concealing the fact the titles are held at Fina Bank.”
He also had misunderstandings with the bank which had resulted into the auctioning of the houses by the bank which was to be held on August 25. This brought a lot of fear by the clients over losing their houses and some of them had even paid full amount during the construction process.
Prior to his arrest RDB had brought both parties; Fina Bank and DN International together to review the appropriate ways of handling the issue.
Exclusively speaking to igihe.com, RDB’s Chief Operations Officer Claire Akamanzi said, “there is nothing to tell you now but we brought them together and we hope the problem will rectified soon.”
When contacted Lloyd last Friday, he noted; “yeah we had miner misunderstandings with the bank who gave us loan for the construction of this estate but we have come to an agreement and the problem will be rectified as soon as possible.”
The Managing Director Fina Bank, Rao Balivade noted, we reached a temporally agreement and put the auctioning on halt for some time.
Lloyd is being detained at Remera Police Post.
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