Imagine a loss of Khs. 1 Billion?
Bishop Davi Kariuki Ngare will forfeit his property worth Sh1.5 billion to repay members who made savings through the embattled Ekeza Sacco.
The government announced the resolution after Bishop Ngare sad he was unable to refund Ksh1 Billion he allegedly withdrew from Ekeza Sacco illegally to fund his lifestyle.
Speaking to KTN, the Bishop of the Thika-based Calvary Chosen Centre welcomed the sale of his assets provided he is involved in the process.
The founder of the troubled Ekeza Sacco made the address after an inquiry report on the sacco was released on Thursday.
The Government had directed that the bishop, his wife and his firm Gakuyo Real estateshould “suffer the seizures” to recover monies owed to members of Ekeza Sacco.
The recently released report concluded that the Bishop started out with the aim of enriching himself and had no intention of helping members to buy land via his firm, Gakuyo Real Estate.
“All staff who irregularly loaned themselves monies from Ekeza must make arrangements to repay the monies or will have their properties seized to recover the same,” the report further directed.
The bishop had reportedly frustrated Ekeza’s internal audit teams from carrying out their work.
During the inspection, Kariuki and his close associates declined to furnish the liquidator-receiver managers with their bank statements.
The bishop, his personal assistant James Kimani and the sacco’s former CEO Gladys Muriithi directly withdrew money from Ekeza.
Huge sums of money were allegedly delivered to the bishop’s house while another chunk was reportedly spent on building houses on Gakuyo’s land.