April 21, 2019

Agencies told to seize Sh 1bn Gakuyo assets

Authorities Thursday ordered Kiambu politician and county official David Kariuki Ngare’s assets seized to recover Sh1 billion he allegedly illegally withdrew from Ekeza Sacco to fund his lifestyle.

An official inquiry report by Co-operatives ministry said the Thika-based Calvary Chosen Centre bishop, his wife and his land selling and house development firm Gakuyo Real estate should “suffer the seizures” to recover monies owed members of Ekeza Sacco.

The report prepared by appointed liquidator-receivers Stephen Njoroge (assistant director for co-operative audit) and Philip Uluma (principal co-operative officer) said Mr Kariuki started out with the aim of enriching himself and had no intention of helping membersto buy land via his firm, Gakuyo Real Estate.

“All staff who irregularly loaned themselves monies from Ekeza must make arrangements to repay the monies or will have their properties seized to recover the same,” said the report.

The meeting in Nairobi heard that Bishop Kariuki aka Gakuyo frustrated Ekeza’s internal audit teams from carrying out their work.

During the inspection, the bishop, his personal assistant and Ekeza vice chairman James Kimani and former chief executive Gladys Muriithi declined to furnish the liquidator-receiver managers with their bank statement.

The report showed the trio directly withdrew money from Ekeza, which was reportedly spent on building houses on Gakuyo’s land, buy land with huge sums of money delivered to the chairman’s house.

Read original story by Daily Nation here

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