Youth Fund CEO suspended over KES 200 million fraud
25 October 2015, 09:04
Nairobi - Youth Fund CEO, Catherine Namuye has been suspended over KES 200 million fraud.
Reports indicate that Namuye was suspended after the Banking Fraud Unit discovered suspicious transfer of funds from the Fund’s account between February and April this year.
Between KES 180 and 200 million has so far been transferred to Quondum Ltd using forged documents.
Read Also: Government's extravagance to blame for the latest spate of cash crunch
Daily Nation further reports that the Fund could not account for KES 400 million deposited in a fixed account, plus the accrued interest.
Investigations into the matter have kicked off.
- For more details visit Daily Nation
For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page!