Ekeza Sacco founder David Kariuki Ngare, also known as Gakuyo, will remain in police custody until Monday next week when he is set to face charges.
Gakuyo was arrested on Wednesday in connection with several cases of defrauding members of Ekeza Sacco of over Ksh.1 billion.
He appeared in court on Friday for a ruling on a miscellaneous application requested by investigating officers to have him held in custody for four more days to conclude investigations and await consent from the office of the DPP to charge him.
The court cited advanced investigations and granted an additional day in custody. Gakuyo will appear in court on February 26 to face charges.
With the arrest of Gakuyo, victims of Ekeza Sacco who had diligently saved for around two years, expressed determination to pursue their money.
Victims of the mega fraud scheme recounted how they were defrauded of their hard-earned money over 5 years ago.
Tabitha Njeri is one of the victims; by the time the government deregistered the Sacco, she had saved more than Ksh.400,000.
“Kutoka 2017 nimekuwa nikifuatilia…sijawai kupata pesa zangu…nimefuatilia pesa nikiwa na mimba mtoto ako na miaka tatu sa hii,” Njeri said.
Ekeza Sacco was deregistered in March 2018 by the Commissioner of Co-operatives, pending an investigation and an audit of the Sacco’s accounts.
Suddenly, the Sacco’s 53,000 members were plunged into confusion and anxiety concerning the fate of their savings; nearly six years later, they await refunds.
“Maisha yetu imekuwa mbaya tangu siku hiyo…wengine wetu tulikopa tuwe na maisha mazuri…tupate mashamba ama interest…mimi with groups niliwekeza upto Ksh.1.6 million,” said Dagoretti resident Thomas Njenga.
Silas Nyasiki added: “Tulinunua shamba kule Kilimambogo…na hatujawai pewa title…amekuwa akienda kwa maredio na TV akisema hakuna mtu ambaye anamdai chochote…vile ameshikwa na serikali tumefurahi.”
In March 2019, the financial investigations unit at DCI headquarters initiated investigations into a reported mega fraud scheme.
After completion, the ODPP consented to charges on December 8, 2023, including conspiracy to defraud, stealing, and obtaining money by false pretences.
