Good Life Sacco staff in court on fraud charges

An employee of the collapsed Good Life Sacco said to have conned traders out of millions of shillings was on Thursday charged in an Eldoret court with more than 40 counts of conspiracy to defraud its members.

This comes four years after the once-popular micro-finance institution founded by Obadiah Maina went under.

Rachael Wangui Wachira was also charged with another count of operating a financial business without a valid licence.

Ms Wachira and Mr Maina are accused of stealing over Sh1 billion in deposits from hundreds of members across the country.

In asking for tougher sanctions against the suspects, the prosecution said the managers have been on the run after defrauding hundreds of sacco members of their savings.

The court heard that the accused committed the alleged offences between 2013 and 2015 in Eldoret.