Four arrested over multi-billion KUSSCO scandal
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Four people have been arrested in connection
with the multi-billion-shilling irregularity scandal at the Kenya Union of
Savings and Credit Co-operatives (KUSCCO).
Three of the suspects; Jackline Pauline Atieno Omolo, George
Ochola Owino, and Mercy Njeru, were arrested within Nairobi County,
“[They] now face several charges including conspiracy
to defraud… stealing by directors or officers of companies… and making a false
document…,” NPS said in a post on X.
The fourth suspect identified as George
Magutu Mwangi was arrested in Nyeri County.
Cabinet Secretary for Cooperatives and
MSMEs Wycliffe Oparanya on Tuesday handed over a forensic audit report of the
case to the police for further investigation and legal action.
The audit, conducted by
PricewaterhouseCoopers (PwC), uncovered massive mismanagement, including Ksh.3.7
billion in non-performing loans, overstated profits of Ksh.797.9 million over
six years, and irregular commission payments totaling Ksh.2.7 billion.
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