Fraud: How ICT Authority managers colluded with banks to steal Sh160m in six months
SEE ALSO :Clerk in fraud trial barred from officeOne of the banks could find itself in trouble for facilitating the theft by accepting payments to a single account that had 21 different names for the various transactions. In one of the payments, the bank account bore the name of employees' savings society to conceal the fraud and ensure that the transactions passed as if they were staff deductions. "Collusion with banks is needed for money to be wired to the same account number under different names," the auditor said in the report. The use of sacco societies to send money to a single bank account was indication of a well-planned scam that would take a long time to be detected. Masika expressed fears that the theft could have happened for a lot longer, suggesting that the loss to the taxpayers could be much larger.
SEE ALSO :Africa's richest woman accused of fraudThe four managers mentioned collectively paid into their personal bank accounts more than Sh20 million, which was booked as per diem allowances. But the auditor said the amounts were too high to have been for out-of-office allowances for at least 541 days. "This will translate into 541 nights out of office, which is not possible in six months," the auditor said.
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