No Good Life for Good Life Sacco Members

Good Life Sacco

The Eldoret Senior Principal Magistrates Court yesterday charged a director of the collapsed Good Life Savings and Cooperative Society with over 40 counts of conspiracy to defraud.

The offences were alleged to have happened between 2013 and 2015.

Rachel Wangui WAchira is a director of the now defunct Sacco that sank with Sh26m of shareholder money. She was released on a Sh 7m bond and surety.

Goodlife founder Obadiah Maina is still detained at GK prison. The court decided to withdraw its offer of Sh 1 million bond, accusing him of absconding court.

Eldoret Senior Principal Magistrate Sylvia Wewa also offered cashbain of Sh 4 million for Wachira, while her husband was arrested for skipping court on several occasions.

DCI officials arrested Maina in September 2016 and had him locked up at Central Police Station in Eldoret. The Sacco had more than 1 billion in deposits from members in different towns.

Goodlife’s licence was cancelled in 2018 by the Commissioner of Cooperatives. Members had to lodge their complaints with the court appointed liquidators.

Share holders came from Eldoret, Nairobi, Nakuru, Thika, Nyeri, and Nyahururu.

 

 

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