Sh5,000 deposit for Sh10.5m house: The rot in Kuscco Kajiado project

Recent arrests and arraignments of former Kusco officials details fictitious sales commission payments and how one buyer bought four houses but only paid a deposit for one. [File, Standard

The audit into the Kenya Union of Savings and Credit Co-operatives Ltd (Kuscco) details how the entity sold houses with no evidence of deposits, putting the giant union into huge losses. One transaction revealed that only Sh5,000 was wired into the account.

The 208-page document that has informed recent arrests and arraignments of former officials details fictitious sales commission payments and how one buyer bought four houses but only paid a deposit for one.

The houses, 120 in number, are under the Kuscco Homes Project located in Kitengela, Kajiado County.