Controller of Budget Dr. Margaret Nyangate Nyakang’o risk losing her job after being charged with fraud
Kenya’s Controller of Budget Dr. Margaret Nyangate Nyakang’o has been charged before a Mombasa court with several counts including defrauding a depositor of Sh29 million.
Dr Nyakang’o was also accused of operating FEB Sacco Society Limited without a valid licence and forgery.
She was presented before Mombasa Chief Magistrate Alex Ithuku who released her on bail, after denying the charges.
The charges against her stated that she defrauded Claudia Mweni Mutungi of Sh 29 million on diverse dates between 1 November, 2019 and 1 May, 2020, by pretending to operate a genuine investment FEB Sacco Ltd.
She is also charged for operating the deposit taking outfit without a valid licence from Sacco Regulatory Authority.
The prosecution further claimed that Dr Nyakang’o forged Mweni’s si...