Bandari Sacco’s (CMC) Probed Over Loss of Funds 

Investigations by several government agencies have triggered a raging internal vicious board room war between the management led by CEO Mr Joseph Otieno Bee on one hand and board chairman Mr Ken Sungu on the other

By The Weekly Vision

The Central Management Committee (CMC) at Bandari Savings and Credit Cooperatives (Sacco) is reportedly being investigated by officers from the DCI over the loss of millions of shillings over a fictitious land transaction.

A source at Bandari Sacco said that the Central Management Committee went ahead and sanctioned the purchase of a piece of land against sound advice from their legal team. The source added that the purported owner of the said land never availed any documents for verification in support of his claim on the property, the land is situated within Mombasa county. Soon after the transaction went through, the genuine owner emerged with proper ownership documents. An officer from the DCI confirmed to us that they were investigating claims the Sacco officials bought a nonexistent piece of land, without following any due process, paying out millions of shilling to “Ghosts”.

The Weekly Vision contacted the CEO Mr Otieno Bee over the claims but he dismissed suggestions that Sacco was under investigation by officers from the DCI.

Bandari Sacco Chief Executive Officer (CEO) Joseph Bee

The investigations have triggered a raging internal vicious board room war between the management led by CEO Mr Joseph Otieno Bee on one hand and the board chairman Mr Ken Sungu on the other. Chief Executive Officer Mr Bee, Head of Finance Ms Sylvia Ng’ang’a and Head of BDM Mr Ken Nzai were in June 2022 reportedly escorted to the Mombasa Port Police Station by plain-clothed police officers to record statements after a scuffle ensured at the Sacco offices between the management and the board. Others were Chairman Ken Sungu and Director Dennis Mjomba, the two parties publicly-traded accusations regarding the land deal.

Apart from the Directorate of Criminal Investigations (DCI), Bandari Sacco is also under the microscope of the Anti-Banking Fraud Police Unit and the Ethics & Anti-Corruption (EACC). A senior officer involved in the investigations whose name cannot be revealed told The Weekly Vision: “We are also probing more issues like cash and ATM teller machine transactions, investigations have gathered steam“.

It now emerges that the two groups have fallen out over the land issue, and the board room wars are threatening to get out of hand even after the said officials recorded statements with the police over the same.

Author: admin

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