How Established Cartels are working with Rogue DCI officers to Rob SME Lending Institutions

Crooks have now found new ways of fleecing SME lending institutions and allegedly assisted by DCI officers.

Court documents seen by Uzalendo News, show that a borrower takes a loan, provides collateral and fails to pay the loan.

When a distress to recover the money is made and effected from seizure of the collateral, the crooks rush to the nearby DCI officers to claim their goods have been stolen.

The sleuths then track the “stolen items” to the warehouse of a lender, carting them away as exhibits.

The employees who repossesed the goods are charged with stealing. To maximise the intimidation on the lender, the police also charge the directors of the lending institution with criminal liability.

Several cases are pending in Milimani criminal courts.
In one such an incident, DCI officers charged the employees of SME lender and charged them with theft.

The goods in question were actually collateral for a Sh.250000 loan advanced to the complainant.
Court documents in our possession indicate the value of goods as Sh.3.8million.

Before the complaint, a Gazzete notice issued by Primerose Property Managers had given notice to sale uncollected goods belonging to the complainant. Could the goods advertised be the same as those the complainant gave to the police.

After the police raided the lenders godown, the carted aware the goods confiscated and charged the two employees with theft.

In some desperate cases, the borrowers will forge crucial documents such as log books and use them to acquire these loans.

SME lenders want DCI George Kinoti to investigate the matter and bring the culprits to book. Word is, senior directors could soon face the music for their actions, along side rogue police officers.