How Sh180m looted Youth Fund cash was shared
Details have emerged showing how the Sh180 million stolen from the Youth Enterprise Development Fund was shared out.
An anti-corruption court on Thursday fined businessman Mukuria Ngamau Sh700 million for defrauding the Fund of the money.
Chief magistrate Douglas Ogoti held that the director of Quorandum Limited irregularly acquired the money.
Ngamau will spend 27 years in jail if he defaults in paying the fine, having been found guilty of five counts of looting seven years ago.
The magistrate further ordered the businessman, and by extension his company, to compensate the fund Sh180 million, being the amount that was lost.
The money trail by the Ethics and Anti-Corruption Commission revealed that the cash was moved from the YEDF account at Chase Bank to Quorandum Ltd a...