For instance, the Sacco was sharing office space and bank accounts with Gakuyo Real Estate Company. Read: Pastor sneaks away as sacco members demand their cashEkeza Sacco director David Kariuki irregularly transferred Sh1.5 billion from the society to his real estate firm. See: Ekeza Sacco puts property on sale to refund members’ savingsThe audit showed the honorary secretary also doubled up as the CEO, which is contrary to sacco laws. There was no register for immovable assets, making it impossible to recognise those belonging to Ekeza Sacco and Kariuki's real estate company. The audit showed senior managers did not want to use smart information management system to beat accountability.

Source: The Star February 21, 2019 19:07 UTC