MPs demand prosecution of pyramid scam suspects

The Government has been blamed for failing to bring to book people behind the pyramid schemes that sank with millions of shillings.

MPs put Finance Assistant Minister Oburu Oginga to task when they sought to know the progress made on the matter. Mr Oginga said his ministry had recommended prosecution of three individuals for flouting the Banking Act.

His answer, however, did not go down well with MPs, who accused the Government of failing to act on the matter, despite complaints by members of the public.

Consequently, Speaker Kenneth Marende directed the minister to issue a satisfactory answer on the action taken so far. Yatta MP, Charles Kilonzo wondered why the Government failed to investigate the cases yet there were complaints registered by members of the public. The MP had sought to know what became of the Sh5 billion held by the Central Bank of Kenya and some commercial banks in frozen accounts belonging to operators of the pyramid schemes.

Investigation

Odinga however, absolved his ministry from blame saying investigations were done by the police.

"We were dealing with violations of the Banking Act and we took three individuals where we recommended prosecutions," said Oburu. He said the schemes were illegal and they fall under the juridisction of CBK, which has police.

Nyakach MP, Pollyins Ochieng, Imenti Cetral MP, Gitobu Imanyara and Bura MP, Abdi Nuh questioned why the Government is reluctant to prosecute the individuals yet a task force instituted to probe the matter recommended their prosecutions.