Interior Cabinet Secretary Fred Matiang’i has directed Inspector General of Police Joseph Boinnet to take stern action against Ekeza Sacco founder David Kariuki Ngare alias Gakuyo and other officials who are accused of embezzling Sh1.5 billion from the society.
Speaking in Nairobi on Wednesday, Matiang’i has declared that the government will not watch as rogue Sacco officials defraud Kenyans of their hard-earned cash.
“…rogue officials mismanaging funds in the co-operative movement will be prosecuted after the conclusion of investigations,” says Matiang’i.
“One way in which we are going to support co-operative movements is to punish and bring to book those who misuse the Sacco resources. We will go after these people. We are hot on the trail of the Ekeza officials and others.”
An audit into Ekeza Sacco’s operations has established that Bishop Gakuyo and his wife illegally withdrew Sh1.5 billion from the society’s coffers and used some of it to fund their expensive lifestyle.
The funds that were apparently transferred to his personal account belonged to more than 50,000 members of the Sacco.
Last year, the Commissioner for Cooperatives Mary Mungai revoked the Sacco’s license following complaints that Ekeza was sharing bank accounts and offices with its sister company, Gakuyo Real Estate.
The Sacco was also accused of denying members access to their savings and reneging on its promise to help them purchase homes.
Bishop Gakuyo had offered to sell some of his properties including Lillies Hotel in Juja, Salama House and Swift Breeze Hardware on Garissa Road, a quarry in Murang’a County as well as 250 acres of land in Machakos and Murang’a Counties.
He claimed the sale would enable him to raise money so he could refund Ekeza members’ savings.
The sale was, however, suspended by the court until March 7th, 2019 when an inter-party hearing will take place.
The Commissioner for Cooperatives has filed the case to block Gakuyo from selling the property.
The goose is cooked. All…
The goose is cooked. All manner of Kenyan thieves should rot in jail. Poor peole are really hurting in this country. Everybody wants everything for himself/herself without dropping a single sweat. Gakuyo spent a hell lot of members savings to criss-cross American cities using his collar through Jambo Radio Network to entice diaspora with seemingly softly theorigious to make a kill, and oh Lord did he got them. Now with Super Kenyan hero Matian’gi, these crazy greedy collarman will not only rot in jail but visit hell early. The next scandle in the making will be from this (HDND) Hyperactive Deficit Disorder guy Optiven. Just look him in the eye and unravel some hidden hypocritical deceit with big mouthed tainted with an “I gotta loan to man” attitude. Am not Prophet Owuor but come 2023, all those who bit his bait will be crying like babies in these forum.
@Mjuaji, I am with you I do…
@Mjuaji, I am with you I do not trust Optiven at all. Last time he was in our city. Somebody asked him what will happen to the properties if we get tribal clashes. He told us there will never be tribal clashes again. Which is a big lie. Nobody knows the future.
How can we duplicate more…
How can we duplicate more Matiangs in Kenya. That is the only person who is working and doing the right thing. Oh and Prof. Kibwana the governor!The only two people who are holding the ship from sinking.
Why don’t we ever learn…
Why don’t we ever learn lessons? But I’ve heard it said several times “malipo ni hapa chini” What makes people think they can get away with it then? Aaah! Gakuyo,what goes in your mind when you see your fellow billionaires die a painful death after their actions caught up with them? Lord have mercy on us!Peace!
But how come or what does it…
But how come or what does it mean when we hear that his license was reinstated? Doesn’t that mean that the regulator found nothing wrong with his dealings ama? Am beginning to sense that members money will be split between the government & the devil himself! Oh Lord! Who will rescue us from the evils that prevail in this land?