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Thursday, January 7, 2021 – Ekeza Sacco founder, Pastor David Kariuki Ngare, famously known as Bishop Gakuyo, on Wednesday, January 6, confessed that paying off the debts had impacted his health negatively.

Gakuyo was ordered to issue refunds after allegedly duping clients to contribute over Ksh2.5 billion for ‘property investments’

Speaking during a requiem for five children who died in a septic tank accident at Mwihoko village of Ruiru in Kiambu County, the businessman cum preacher stated that he complied with the order to protect his name.

“I have never even sired a child outside my marriage, leave alone stealing a coin from investors.”

“I have grown thinner because of giving out all I had to try and protect my reputation,” Gakuyo stated at the function.

He further blamed political detractors for his woes maintaining his innocence over the fraud claims.

Ekeza Sacco had started refunding members in phases.

The refund process commenced in January 2020. Gakuyo planned to pay 1,500 members in the first phase.

It involved those who had saved Ksh 5,000 downwards.

The second phase was for members he owed Ksh20,000 to Ksh50,000. Investors who were demanding up to Ksh200,000 would be refunded later on. 

Gakuyo, at the time, detailed that the process would take up to two years, given the nature of the liquidation strategy he was implementing.

The Kenyan DAILY POST

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