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{
    "id": 683541,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/683541/?format=api",
    "text_counter": 241,
    "type": "speech",
    "speaker_name": "Hon. Keynan",
    "speaker_title": "",
    "speaker": {
        "id": 41,
        "legal_name": "Adan Wehliye Keynan",
        "slug": "adan-keynan"
    },
    "content": "transaction. When we analysed these documents critically, we realised that these were all blatant attempts by Ms. Catherine Namuye and her business cohorts to change issues, so that she could project herself as a victim of a board conspiracy and this was not the case. Ms. Catherine Namuye was the architect of the whole fraudulent activity with her cohort, Mr. Mukuria Ngamau of Quorandum Limited. Eventually, the Youth Enterprise Development Fund (YEDF) lost a whopping Kshs180 million plus. Once Mr. Mukuria Ngamau, who is the sole proprietor of Quorandum Limited got the cash, he immediately made several suspicious cash withdrawals from the Quorandum Limited accounts at Chase Bank and the Standard Chartered Bank. This money was transferred in the following manner: Immediately he got the money, Quorandum Limited bought a duplex apartment in Lavington Nairobi from Duchess Park Limited at a cost of Kshs48.5 million. These are the proceeds from this particular transaction. As a result of this, somebody got a complex apartment in some of these high cost areas in Lavington. He also made a payment of Kshs18 million to Great Lakes Limited. This is money he could not pay before, but when he got free money, he decided to clear some of his debts. He also paid Britcom International, a United Kingdom (UK) based company, a whopping Kshs9.24, purportedly for the purchase of an excavator. Immediately he got the cash, he made a number of cash withdrawals. We could not ascertain the end receivers of these cash withdrawals. We ascertained that a complex apartment was bought. He cleared some of his outstanding debt. He also bought an excavator or grader and made payment to his spouse of about Kshs91,480. He also made payment for another undisclosed purpose. These were all through the bank transactions. For the cash withdrawals, it was difficult to ascertain because millions of shillings were withdrawn at the counter. We could only speculate because he had a very important key player called Mr. Bruce Odhiambo and others whom we did not identify who were key beneficiaries. In fact, in one of the transactions as I later on learnt, Mr. Bruce Odhiambo received a huge chunk of the transaction through his bank account. When we asked him to explain, he could only say that he is not the Bruce Odhiambo who was mentioned. When the Bank appeared before the Committee, they said that this was the Bruce Odhiambo, the then Chair of the YEDF. We thought that by now somebody would be in court or somebody should be in the process of recovering the assets so as to get back this money, but this has not happened. I hope somebody is waiting for the adoption of this Report. I hope the Ethics and Anti-Corruption Commission (EACC), the Criminal Investigation Department (CID) and the Inspectorate of State Corporations are all out there looking for this money because we fund them through the taxpayers’ sweat. These individuals should pay back this money through whichever form. Following the loss of this amount, the board of the Fund, in a special sitting held on 23rd October 2015, recommended the suspension of Ms. Catherine Namuye and the then Acting Finance Manager and appointed Mr. Emmanuel Odero. Sadly, Mr. Odero was not allowed to function properly because within a very short time, he was suspended simply because the beneficiaries of this youth transaction felt that he was likely to be an impediment in covering their weird financial transactions. After we went through the entire process, we realised that the YEDF did not have any well-crafted policies to ward off such illegal transactions. It is like the board would just come up one morning, send of a particular officer through the chairman, create certain transactions the next day, take the money, then come back and engage at the Ministry."
}