Gakenke: Two SACCO employees arrested over missing funds

Two employees of a savings and credit cooperation in Nemba in Gakenke District have been arrested in connection with the embezzlement of over Rwf15.8 million from the SACOO’s coffers.

According to Chief Inspector of Police Hamdun Twizeyimana, the Police spokesperson for the Northern region, the duo was taken into custody on May 6 following an audit by the National Bank of Rwanda, which revealed that a total of Rwf15,811,500 was either embezzled or unaccounted for.

The two suspects (names withheld) are a man and woman and one was the manager while the other one was a teller at the SACCO.

“The woman is implicated in the embezzlement of Rwf15,465,000 while the man was implicated in the embezzlement of Rwf346, 500,” Twizeyimana said.

“The audit unearthed a syndicate of fraud between the manager and the teller,” he explained, adding that “Police acted on the report to arrest them to facilitate further investigations by Rwanda Investigations Bureau (RIB). Investigations by RIB will inform if there are other people involved to be arrested.”

Embezzlement, under article 325, attracts an imprisonment of between seven and ten years and a fine of two to five times the value of the embezzled or destroyed property

He also called upon anyone with information regarding the case to come forward and facilitate the justice system in fighting such high impact crimes of corruption or embezzlement.


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