Bandari Sacco CEO brags of silencing DCI officers probing financial scandals

The Chief Executive Officer (CEO) was overheard bragging over the Christmas period how he managed to compromise senior DCI officers to kill any investigations into the alleged looting of millions of shillings belonging to members of Bandari Sacco

By The Weekly Vision Online

Several serious financial scandals have erupted at the multi-billion shillings Bandari Savings and Credit Cooperative (Sacco) society in which the top management is alleged to have looted hundreds of millions of shillings from the Sacco accounts to feed their greedy pockets. The scandals have since attracted the attention of Criminal Investigations Department officers who have moved in to try and uncover what transpired there and secure member’s funds.

The Sacco’s Chief Executive Officer (CEO) was overheard bragging over the Christmas period how he managed to compromise senior DCI officers to kill any investigations into the alleged looting of millions of shillings belonging to members. He went further bragging of how he had ‘mbuzi choma’ on New Year’s Eve with a top DCI official. According to The Weekly Vision Online sources within Bandari Sacco, the alleged cover-up operation involved tens of millions of shillings and was orchestrated, engineered and executed by the Sacco management led by the CEO Joseph Bee and board chairman, Ken Sungu.

A report on the financial scandals at Bandari Sacco was forwarded to the Directorate of Criminal Investigations (DCI) headquarters on Kiambu road by a section of members of staff for forensic investigations

Bandari Sacco Board chairman Ken Sungu

In another development, CEO Joseph Bee is rumoured to have compiled a fresh list of new board members he says he can comfortably work with; he was overheard complaining that current chairman Ken Sungu is too rigid and slow at making critical decisions.

A report on the financial scandals at Bandari Sacco was forwarded to the Directorate of Criminal Investigations (DCI) headquarters on Kiambu road by a section of members of staff for forensic investigations but reports that DCI officers were compromised by the Sacco management cast a shadow of a doubt among the staff who feel that there may never see any meaningful investigations at all.

Our sources within Bandari said: “Now the CEO is publicly bragging that he managed to reach the top leadership of the DCI to ensure that the status quo remained. Therefore, they are confident that no action can come from that direction.” He said that an estimated Ksh. 16 million was pilfered by the Sacco officials to execute their cover-up operation since the matter was already in the hands of the DCI who were about to start forensic investigations into the matter.

CEO Joseph Bee

The sources said that since no action has come from that office to date, the issue has raised many questions among staff members as to what would happen next since there is clear evidence of massive financial impropriety at the Sacco. There is widespread fear that the operations of the Sacco may grind to a halt if these activities are left to continue, which may easily lead to massive withdrawals by members to salvage their savings from being squandered by the current management. 

Sources within the DCI confirmed to The Weekly Vision Online that the matter had been brought to their attention requiring immediate action with a view of taking legal action against those involved and that they were still carrying out investigations. The source declined to divulge how far the DCI investigations had gone into the matter or if they had been initiated at all and if so, how many DCI sleuths had been assigned to deal with it, only saying “it was an ongoing investigation.”  What remains to be established is if any other government investigative agencies like the Ethics and Anti-Corruption Commission (EACC) were involved.

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