FORMER NSSF MANAGER FRANCIS MOTURI 2.6 BILLION FINE SET TO BE A LESSON TO CORRUPT INDIVIDUALS
The anti-corruption chief magistrate, Lawrence Mugambi gave out a harsh warning to corrupt individuals by fining Moturi, David Githaiga, Wilfred Weru, and Isaac Nyamongo Sh 9.6 billion.
Yesterday the anti-corruption chief magistrate, Lawrence Mugambi gave out a harsh warning to individuals who are involved in corruption by giving out one of the biggest fines of Kenya Shillings 9.6 billion to four individuals (Moturi, David Githaiga, Wilfred Weru, and Isaac Nyamongo) and a company that defrauded the National Security Fund of Kenya Shillings 1.2 billion.
Milimani Law Courts / Photo Courtesy
The ruling made by the anti-corruption chief magistrate came as a shock to the former NSSF Investment Manager Francis Moturi who is a public servant and the three managers of a private company, Discount Securities Limited. The four; Moturi, David Githaiga, Wilfred Weru, and Isaac Nyamongo will either have to pay the fine or serve 14 years in prison each. This ruling is a way to supposedly send a warning to corrupt individuals and companies that they will be dealt with the same fate. The fine given to the four was almost nine times the Kenya Shillings 1.2 billion that they stole from pensioners in 2008 through fraudulent transactions. The scheme they used to acquire these funds was done or involved buying shares of listed companies through the private company, Discount Securities Limited.