A disciplinary hearing for a senior employee of the Kenya Union of Savings and Credit Cooperatives (KUSCCO Ltd.) has been postponed. This is part of an ongoing investigation into how the company managed accounts holding billions of Kenyan shillings.
Francis Odhiambo, the former Chief Cashier, is being investigated by both KUSCCO management and the Directorate of Criminal Investigations (DCI).
The hearing, which was planned for Monday, September 22, was delayed due to “unforeseen circumstances.” A new date will be announced later.
The case involves a very large amount of money. Lawyers for Mr. Odhiambo stated that two main company accounts they reviewed handled over 2.5 billion shillings in total between 2013 and 2024.
In his defense, Mr. Odhiambo’s legal team stated that he strongly denies any wrongdoing. They said he did not personally start or profit from any transactions and that he always followed company rules and got proper approvals for his work.
A key part of the defense focuses on record-keeping. The lawyers clarified that Mr. Odhiambo was only temporarily holding payment documents for about a year. They stated that the Finance Manager is the official person responsible for keeping those records, not their client.
The lawyers emphasized that Mr. Odhiambo was merely acting as a temporary custodian of payment documents for approximately one year.
They asserted that the Finance Manager is the designated individual tasked with maintaining those records, rather than their client.
His legal representatives further noted that Mr. Odhiambo has been entirely forthcoming with the DCI. They allege he submitted a substantial volume of financial documents covering the period from 2017 to 2023, all with the consent of his manager.
Moreover, the defense highlighted that the company’s preliminary list of accounts under scrutiny overlooked one that was overseen by Mr. Odhiambo.
As per his attorneys, the transaction summary for this account reveals numerous payments related to marketing expenditures and assorted allowances.
