The Ethics and Anti-Corruption Commission (EACC) has apprehended nine suspects in connection with an investigation into the alleged embezzlement of Ksh1.57 billion from a National Treasury programme.
According to the commission, the nine suspects are being held at the commission’s Integrity Centre as investigators process the case ahead of their expected arraignment.
The anti-graft agency is also pursuing the recovery of the funds allegedly lost through the scheme.
Nine treasury officials arrested by EACC
The arrests come at a time when the anti-graft agency investigates alleged fraud involving the Programme for Rural Outreach of Financial Innovations and Technologies (PROFIT), a financial inclusion programme funded through a loan from the International Fund for Agricultural Development (IFAD).
Investigators established that more than Ksh1.56 billion was fraudulently deposited into a bank account opened in the programme’s name after its official account had already been closed.
The suspects reportedly used forged National Treasury documents to open the new account, creating the impression that it was a legitimate account belonging to the PROFIT programme.
Additionally, the investigation established that Ksh784.7 million was subsequently transferred to 23 companies, while another Ksh768.2 million was allegedly withdrawn in cash, raising questions over how the funds were authorised and disbursed.
