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Ex Govt Finance Boss Exposed for Hiding Stolen Ksh77 Million in His Child's Account

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A former government finance boss was exposed after hiding Ksh77 million which was stolen in his child's account.

play Kenyan currency (Twitter)

A former Nairobi County official transferred Ksh77 million in his underage child’s account, the EACC unveiled.

Justice Hedwig Ong’udi heard that a probe showed Stephen Osiro deposited the money and an extra Ksh53 million in his wife’s accounts which he could not explain their source.

Lawyer Judith Shamalla stated that those were some of the reasons that made the anti-corruption body believe that the former head of accounting at City Hall was plundering public funds and engaging in money laundering.

Housewife with unexplained millions

EACC investigators also learned that his wife is a housewife with no other source of income but had millions of shillings deposited in her account which made them suspect their dealings.

play Former head of accounting at City Hall, Stephen Osiro (Twitter)

 

The EACC asked the court to allow them to recover Mr Osiro’s properties worth Ksh340 million which it alleged was irregularly acquired through result(s) of economic crime.

According to EACC, it was impossible for Osiro to have such wealth within a span of five years with his salary of Ksh90,000 a month.

Shamalla told the court that investigations had shown that Osiro and his wife Caroline Odhiambo acquired unexplained assets worth Ksh318,637,338.60 between January 2011 and April 2016.

Counter accusations

Through lawyer PK Mtange, Osiro contended that the EACC assertions were based on lies and an attempt to cripple them financially.

play Justice Hedwig Ong’udi (Twitter)

 

Mtange asked the court to lift the orders that had frozen their accounts, arguing that the couple was suffering and could not look after their children, who are in school.

He dismissed the commission's claim that the two had several other properties from which they collected rent.

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