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Corporate Fraud

Former Staff Accuses Management Of Looting Kuza Sacco Society Limited

Kuza Sacco manager giving out a title deed.

Hi Nyakundi,

I want to thank you personally for the good job you’re doing please keep it up.

I also want to bring to your attention a scandal about a sacco in Banana Kiambu County called Kuza Sacco Society Limited formerly Kounty Sacco.

I was their employee and resigned due to illegal activities and fraud happening there

There is around Kshs. 3 million members shares that cannot be accounted for and it is a ticking time bomb. Many members are those workers working in tea estates and I feel for them because sooner or later their money is going to waste despite their meagre earnings.

Recently, Kuza Sacco received Kshs. 5 million which they acquired fraudrently using fake information and fake book of accounts which were cooked within the premises of Kuza sacco led by their general manager.

The Kshs. 5 million was acquired from Kenya Women Enterprise Funds and was supposed to be used to boost women groups which do not exist as they put in their proposal when they were applying for the loan. Instead the money was used to refund one member called Jimmy who resides in Banana of his shares of around Kshs. 1.2 Million.

The other bunch of about 2.6 million was used to buy a parcel of land in South Kinangop for purpose of selling plots.

The remaining sum was given to friends of board of directors as collateral loans.

Kindly hide my identity and kindly expose this rot happening there to the Directorate of Criminal Investigations (DCI) for action.


[‘Heri Kufa Kuliko Kuishi Kenya’] SACCOs Once The Safest Money Saving Schemes, Now A Cash Cow For Corrupt Few

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