Friday, February 14, 2025 - A young lady, who was dating former Kenya Union of Savings & Credit Co-operatives Ltd (KUSCCO) CEO, George Ototo, is back to the drawing board after Assets Recovery Agency (ARA), confiscated a Toyota V8 and a lavish house he had bought for her using money looted from the Sacco.
The Government agency confiscated the ill-gotten wealth even
as the hunt for Ototo continues.
Word has it that Ototo hid most of the properties he bought
using looted funds with his string of girlfriends.
Ototo is among the former top executives wanted for cooking
financial statements and theft that put Sh 13.3 billion belonging to depositors
at risk.
Cabinet Secretary for Co-operatives and Micro, Small and
Medium Enterprises Wycliffe Oparanya on Tuesday handed the
PricewaterhouseCoopers (PwC) forensic audit to Inspector-General of Police,
Douglas Kanja, for an in-depth probe and prosecution of those culpable.
Oparanya said the complex web of fraudulent transactions
including manual entries and cash dealings to exclude banking trail indicates
that the in-depth probe may take longer to conclude, warning that Saccos may
not recover billions of shillings lost in the scheme.
Ototo is currently on the run, having switched off his phones to avoid being tracked.
The Kenyan DAILY POST
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