Sacco director charged with Sh1 billion fraud
Good Life Savings and Cooperative Society founder’s wife said to have defrauded traders of more than Shi billion was charged in an Eldoret court with more than 40 counts of conspiracy to defraud.
Rachael Wangui, who is a director of the collapsed sacco, was also charged with other counts of operating a financial business without a valid licence.
She denied the charges before Eldoret Senior principal magistrate Sylvia Wewa and the court directed she be released on a Sh7 million bond.
However, the court ordered the sacco founder Obadia Maina be detained at Eldoret GK prison after his Shi million bond was withdrawn for absconding court on several occasions. Both cases will be mentioned on September 30.