Former NSSF Manager Jailed For 14 Years
Former National Social Security Fund (NSSF) manager has been jailed for 14 years for defrauding Ksh 1.2 billion a decade ago.
Francis Moturi will either serve a 14-year jail term or pay a fine of Ksh.2.6 billion.
In maintaining the 2022 fine and jail term, High Court Judge Nixon Sifuna found that Moturi’s actions caused considerable financial losses to the pension fund.
Moturi’s request to have the high court invalidate his conviction and sentence, which were initially issued by Chief Magistrate Lawrence Mugambi in 2022, was denied.
Moturi, who headed the department in charge of purchasing shares, was fined Ksh.2.6 billion and sentenced to 14 years in prison for his role in the pension fund’s Ksh.1.2 billion loss.
Former NSSF Manager Jailed For 14 Years
He was convicted with Discount Securities Limited (DSL) officers, including Isack Nyakundi, Wilfred Munyoro, and David Githaiga. Discount Securities Limited was also convicted.
Moturi and the other parties filed an appeal because they were dissatisfied with the verdict. However, Judge Sifuna affirmed their verdicts and punishments, highlighting the necessity of accountability in public finance management.
Trial Magistrate Lawrence Mugambi punished the three former DSL employees Ksh. 803 million apiece, or 12 years in prison.
Former NSSF Manager Jailed For 14 Years
Discount Securities Limited was ordered to pay a Ksh.4 billion punishment for failing to comply, or its assets will be auctioned.
Moturi and the other parties appealed because they were displeased with the ruling.
However, Judge Sifuna upheld their judgments and sentences, emphasizing the importance of responsibility in public money management.
Trial Magistrate Lawrence Mugambi sentenced the three former DSL employees to Ksh. 803 million each, or 12 years in prison.
Moturi was not happy with the decision, so she and the other parties filed an appeal.
Judge Sifuna, however, upheld their decisions and penalties, emphasizing the need for accountability in the administration of public finances.
Trial Magistrate Lawrence Mugambi sentenced the three ex-DSL workers to a total of Ksh. 803 million in prison, or one year each.
Former NSSF Manager Jailed For 14 Years
Discount Securities Limited’s assets will be auctioned off if it does not pay the Ksh. 4 billion fine stipulated for noncompliance.
