The former boards chairpersons of the Police Exodus Sacco have failed to give a clear account each time the new board took over, Sacco bank accounts were dissolved
The board chairpersons led by retired AIGP Asan Kasingye also failed to convince the committee on the regulations that approved mandatory savings but restricted access of funds by members
They were appearing before the Parliamentary committee on defense to answer queries on alleged mismanagement of the exodus Sacco
Parliamentary committee on defense has today interfaced with the former board chairpersons of the police Exodus Sacco on queries of mismanagement of the Sacco
The former board chairperson led by Former Assistant Inspector General of police Asan Kasingye were tasked to explain why they decided to fix funds on Sacco savings accounts at the time the sacco had no surplus and was struggling to pay out members saving
The committee further established that since inception, the change or board in the exodus Sacco was occasioned by dissolving of member’s accounts and opening of new accounts in new banks with no accountability made.
The committee established that during the tenure of Laban Mahawa, millions of members interests that accumulated from their fixed accounts were diverted into construction of Sacco offices rather than paying out as dividends
Henry Kalulu is also said to have cause a financial scandal after he decided to merge the Police Exodus Sacco with the Crime Preventers Sacco
There were counter accusations as retired AIGP Asan Kasingye blamed in predecessor Henry Kalulu for accusing him of swindle over 6bn shillings from the Sacco
The two failed to agree on why they kept on switching members funds to different accounts without explanation something that paved way for mismanagement of funds hence causing financial crisis
The former Board chairpersons included Asan Kasingye, Laban Mahawa, and Henry Kalulu
The committee will on Friday continue with inquiries on why one Dickson Associates participated in audit of police reports for 12 consecutive years beyond the accepted limit.
