This archive report was first published on 7 September 2019.
Published on September 7, 2019, a report by Weekly Citizen exposed a complex financial fraud involving Equity Bank and the collapsed Good Life Sacco, with suspicions of a possible Sh1 billion swindle.
Investigations are underway, with detectives targeting the bank for its alleged role in the heist that left many Kenyans suffering.
Good Life Sacco, founded by Obadiah Maina, mysteriously collapsed in 2015, resulting in the public losing billions of shillings.
Instances have been reported where Equity Bank allegedly allowed mass withdrawals by directors of Fedha and Goodlife Sacco in 2015 and previous years, contributing to the collapse of the sacco.
Recently, an employee of Good Life Sacco, Rachael Wangui Wachira, was arrested and charged with over 40 counts of conspiracy to defraud members in an Eldoret court.
