The manager went into hiding from April 11, after an audit found out that Rwf9,000,000 was missing from the SACCO coffers. The arrest took place in Muhanga district after a tip-off from the public.
Article 10 of the law on fighting against corruption stipulates that any person, who embezzles for personal or someone else’s interests property, funds or securities entrusted to him or her by virtue of his or her office, or any person who uses for personal gains, the staff under his or her authority commits an offense.
RIB Spokesperson Modeste Mbabazi warns the public and especially people in high institutional positions and financial managers against this crime.
“Embezzlement of funds especially in SACCOs denies other members to acquire loans and develop their projects, we therefore as RIB will continue to bring the culprits to book but also sensitize the public more on this crime,” said the spokesperson.
Upon conviction, the manager of SACCO Umutuzo is liable to imprisonment for a term of not less than seven (7) years but not more than ten (10) years and a fine of three (3) to five (5) times the value equivalent to the value of the embezzled property according to the law.
RIB lauds the continuous public partnership in preventing crimes and calls upon the public to report any acts done in breach of the law
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