Gulu SACCO Treasurer Arrested For Fraud

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The Pece Saving and cooperative organization (SACCO) treasure in Gulu has been arrested for Fraud.
Moses Bongomin is accused of diverting about two million shillings from the SACCO to his account. The matter was brought to the attention of the authorities by the Pece division Authorities.
Bongomin was arrested shortly after he told a security committee meeting on Friday that he used the money to open up his personal account in DFCU bank.
The meeting chaired by Milton Odongo, the deputy Resident District commissioner, heard that Bongomin used 500, 000 shillings to open up a personal account and deposited 1.5 million shillings on the SACCO's account in Centenary Rural Development Bank, Gulu Branch.
On interrogation by the district security committee, Bongomin admitted to defrauding the SACCO. He said that his actions were motivated by the desire to generate more profits.
Early this year, Gulu cooperative and saving scheme was forced to close business after the depositors accused the proprietors of conning money by false pretence. The matter was taken to the high court.
Meanwhile, Gulu Municiplaity Town clerk has sanctioned an audit of all the micro-finance schemes in the District. The audit is intended to check the financial transcations of the SACCO' in Gulu district.