Police Sacco Boss Arrested Over Missing Billions

Police Sacco Boss Arrested Over Missing Billions

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By Spy Uganda

The manager of police savings group Exodus SACCO has Wednesday been arrested by police over allegations that he is behind the embezzlement of billions of savers’ deposits that went missing and can’t be accounted for.

The arrest comes at the heels of investigations into the mismanagement of the Sacco’s funds.

Police management also said the Sacco has been supplying food to the force but without being paid up to Shs2Bn.

IGP Okoth Ochoth (middle, front row) with other members of the SACCO recently. (File photo)

Our Spy privy to the investigation revealed that the suspect, names withheld on police request, is detained at Jinja Road Police Station over allegations of fraud.

The spokesman of the Directorate of Criminal Investigations, Assistant Superintendent of Police Charles Twine confirmed the arrest of the Sacco manager over allegations of fraud.
“He has been arrested,” ASP Twine said.

However, the chairman of the Police Exodus Sacco, Senior Commissioner of Police Wilson Omoding, declined to comment on the matter when contacted by our Spies.

It should be recalled that in December last year, the Police Joint Chief of Staff, Brig. Jack Bakasumba, ordered for an inquiry into the alleged mismanagement of the Sacco money, mainly members’ savings. 

“We are to investigate anyone who ‘ate’ any coin from the Sacco. We will hold them accountable,” Brig Bakasumba said then.

The management of the Police Exodus Sacco has been under the spotlight since its inception in 2007. 

Police officers have been forced to save with the Sacco every month, with the lowest officers saving a minimum of Shs20, 000, although they have tried to access their savings in vain.

The savers (police officers) have never got dividends despite being told that the Sacco’s revenues increase every year.

Last year Parliament asked the Minister of Internal Affairs to present a report on the finances of the Exodus Sacco but to date he has never and he is expected to do so next when Parliament resumes business.

Members of the Police Exodus Sacco have been complaining about their failure to access loans and withdraw savings.

The former Exodus Sacco chairman, Assistant Superintendent of Police Henry Kalulu, recently said they couldn’t trace the Sacco’s books of accounts for six years before he took over leadership.

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