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How dead man signed off Kuscco accounts in Sh13.3bn heist
The audit shows that between 2018 and 2023, Sh206 million may have been stolen through withdrawals from Kuscco Sacco savings bank account in the name of replenishing cash at Kuscco Fosa branches.
Top executives of Kenya Union of Savings & Credit Co-operatives Ltd (Kuscco) forged the signature of a dead auditor to sign off cooked financial statements whose erroneous entries put Sh13.3 billion belonging to depositors at risk of theft.
A forensic audit by consultancy firm PricewaterhouseCoopers (PwC) has revealed that Kuscco, which receives billions of shillings from savings and credit cooperative societies (saccos) for investments, had its 2022 cooked financial accounts backed and signed by external auditor Alfred Basweti of Omenye and Associates.
