Parliament’s investigations into Green Park Villas’ scam seems to be bearing fruit.

A ray of hope is beginning to show for the former house owners, whose properties were auctioned by Kenya Commercial Bank to recover its money after DN International defaulted on loan.

The affected home owners had petitioned Parliamentary Committee on Finance and Trade to intervene and ensure that they do not lose their investments.

The Rwanda Development has now begun investigations into transactions relating to the project.

“We understand this was an unfortunate situation, because the owner failed to pay KCB who is the secured creditor. However, we have agreed with KCB that we will protect home buyers who can prove that they bought the houses. Despite their legal rights, KCB has agreed with us to protect home buyers,” said Clare Akamanzi, chief executive of RDB.

“KCB bought the unfinished estate through public auction and are looking at two options — either finding an investor to finish construction of the estate or for KCB as new owners to finish the estate construction. In either case, we have agreed with KCB that we will protect those who bought the houses and the modalities of how this will be done will be worked on when a final solution is found,” Mrs Akamanzi added.

The parliamentary committee chaired by Connie Bwiza has been meeting all parties involved in the development of Green Park Villas to strike a deal on the way forward.

DN International owner Nathan Ndung’u Lloyd, who is on the run, registered 8 hectares of land, which he acquired from one Mr Kanimba although he only paid part of the total cost of the land.

However, when DN International defaulted on the loan it acquired from KCB and Mr Kanimba went to the National Land Board and reclaimed his land.

RDB officials told the parliamentary committee that an arrest warrant has already been issued against Nathan Lloyd.

It was after these meeting that parliament ordered RDB to carry out investigation into circumstances under which Mr Kanimba got back the land and how the investor fleeced Rwandans without detection.