The Sh13 billion financial scandal at the Kenya Union of Savings and Credit Cooperatives (KUSCCO) has taken a dramatic turn, with revelations that Alfred Basweti, the...
They are accused of conspiring to defraud the financial institution by diverting Sh82,826,000, meant for the purchase of parcel of land LR23269/35 at Nairobi.
The audit placed blame squarely on top executives, including former managing director George Ototo, finance manager George Owino, and chairman George Magutu.
Kenya Union of Savings and Credit Cooperative Society’s (Kuscco) has been declared insolvent as investigations reveal the institution has a deficit of Sh12.5 billion. Yesterday, Kuscco’s...