By Antony Kibaga
In the past few days we have been treated to drama in the social media, it was started by a lady I used to respect so much, Esther Passaris.
Her accusations were directed at someone I look up to as a mentor, someone who has changed the Banking industry in Kenya James Mwangi and Equity Bank in general. Now, as an entrepreneur who has gone through alot of challenges to get to where I am, I may know what Passaris and Adopt Alight have endured to get to where they were afew years back. I havent seen them much since MAGNET VENTURES and other advertising firms domineered the market.
The same applies to Equity Bank. Its journey is well known. From a small SOCIETY to a leading commercial BANK in the Region. Now, when PASSARIS twitted about JM having sexually harassed her, I was taken aback. The person of Passaris calibre should have reported the matter to the policeand allow the them to carry out independent investigations.
After examining her allegations again and again, I read some malice and today I have decided to tell her off. From my criminal psychology studies, it may have been inappropriate, and even responses that followed from my end were not very good, for which i apologize to the ladies of this country.
Now being in security, and my love for investigation, I decided to dedicate time and resources to this matter and the truth is really disturbing. It is heartrending for a Lady of Passaris calibre to use FEMINISM and whip unfair emotions particularly those of women purely to bring down a respectable personality, together with the institution he has built to world class standard.
After my deep and thorough investigations I found out that 1. ADOPT A LIGHT Ltd was on 10/7/2006 contracted by Equity bank to do advertising for a sum of Ksh. 35, 600, 000 for this.
Passaris convinced the Bank to Loan her Ksh. 20, 000, 000 as capital and to offset another facility with the Bank. She then asked for an overdraft of Ksh. 4Million and later another facility of Ksh. 30 Million (LPO) financing .
However, before all the 361 sites could be set up, Adopt ALight had a disagreement with Nairobi City Council, which she was trying to arm twist and the City Council brought down all her signs and she filed a case in court Civil Case No. 637of 2006 in November.
Now that delay in the court case interfered with the banks rollout plan (moving from a building society to a real commercial Bank). Equity Bank looked for another advertising partner, they decided not to pay Passaris because the services were not offered.
By this time, the Loans and Overdrafts were in arrears. With her manoeuvring she took the bank to court and there was arbitration and the bank was asked to pay Passaris and Adopt Alight Ksh. 31Million.
Tthe Bank paid (am attaching the RTGS remittance form to her company lawyers account), even after receiving these amount in February 2015, she did not pay the Bank a penny of the arrears she owed the it on facilities.
The company Directors names were taken to CRB in 2010 after attempts to have them regularise the accounts. The Bank now filed a suit against 2 guarantors Esther Passaris and Philip John claiming close to Ksh. 70 Million (loans+interests) plus costs of the suit.
This is how the sex drama began. Passaris has been intimidating credit and recovery officers any time they try to reposses and attach her items by dropping names of James Mwangi and some senior credit directors.
Her efforts to reach these executives have been impossible because they wanted her to pay up. The bank then contracted a debt recovery company that is so ruthless, they didn’t want to hear any of her excuses. It is during this time she tried to reach to bank executives who absolutely refused to meet her, and instead gave strict regulations from the regulator on their balance sheet.
Esther Passaris at this point was desperate, now that she cant pay, she tried to harass her ex-husband to help her pay in vain. Now that the case is coming up in January 2017 and she doesnt see any possibility of paying, which means she would be declared BANKRUPT, and that way she wouldnt run for any political seat, her desperation, greed and malice made her twist this vibe.
She fabricated a narrative that would portray JM and the bank in bad light, say that she has been sexually harassed which would create alot of public outcry and make the bank withdraw their case or something of the sort.
This is not her first time, Passaris has conned the leading telecommunication company in Kenya. She conned Zain before it changed to Airtel. She has conned one of the west african banks operating in kenya and many other individuals including politicians.
We mustn’t allow such people to continue destroying other peoples careers and business using feminism for financial gain. Its uncouth , its enormously irresponsible.