BY JOAN WANJIKU,NAIROBI,28TH JAN,2022-A Nairobi court has convicted six former officials of the National Social Security Fund (NSSF) accused of defrauding the agency money totaling Kshs.1.2 billion.
The court determined that the six have a case to answer out of the nine individuals who had been arraigned in court for the loss of pension funds at the agency.
In his judgment, the anti-corruption court Chief Magistrate Lawrence Mugambi ruled that Francis Moturi Zuriels, William Githaiga Murungu, David Murungu Githaiga, Wilfred Munyoro Weru, Isaac Nyakundi Nyamongo, alongside Discount Securities Limited conspired to swindle money from NSSF contrary to section 317 of the penal code.
On diverse dates between 25th August 2004 and 20th July 2007 in the city of Nairobi area of the republic of Kenya, the Ethics and Anti-Corruption Commission (EACC), noted that the accused jointly conspired to defraud the public to with the National Social Security Fund, the sum of Kenya shillings 1,201,143,372.40 by purporting to have purchased various quantities of shares of various banks such as the Kenya Commercial Bank, Barclays Bank of Kenya, Standard Chartered Bank, as well as companies including Bamburi Portland Cement Limited, Kengen and National Media Griup at the Nairobi Stock Exchange.
According to documents filed in court by EACC, the accused did this on behalf of the National Social Security Fund whilst no shares had been purchased in respect of the said amount of money.