Today, five officials of the Kenya union of saving and credit cooperations ltd (Kuscco) were charged with stealing Ksh 82.8m made for purchase of a parcel of Land at Nairobi.
The five officials are George Magutu Mwangi, George Otieno Ototo, George Ochola Owino, Jackline P. Atieno and Mercy Muthoni.
The suspects face other charges of Money laundering, stealing by directors and making a false document.
It’s alleged that the suspected officials on diverse dates between October 2020 and April 2022 diverted money totaling to Ksh 82,826,000 made for purchase of a land for KUSCCO to a different account.
Further, it is alleged that on diverse dates between 9th October 2020 and 30th April 2022 having Knowledge that the Ksh82,826,000 formed part of the proceeds of crime received from Kenya Union of Saving & Credit Cooperatives Ltd (KUSCCO), entered into agreement for sale of Land LR No.23269/35 in order to conceal the nature and source of the said funds.
The suspects are also charged with stealing where the prosecution alleged that between October 2020 and April 2022, being the directors and officers of KUSCCO stole Ksh 82.8 million the property of the said limited by virtue of their employment.
Appearing before Magistrate Dolphina Alego, the suspects denied the charges.
The Court ordered Magutu, Jackline Atieno and George Otieno to deposit a bond of Ksh 10m with an alternative cash bail of Ksh 3M.
George ochola owino was granted a bond of Ksh 7m with an alternative cash bail of Ksh 3m.
Mercy Muthoni was released on Ksh 7m bond with an alternative cash bail of sh 2.5m.
