Bank Official Arrested Over Embezzlement

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A cashier at a savings and credit cooperative (SACCO) branch in Base Sector of Rulindo District has been arrested in connection with embezzlement of over Rwf1 million.

Jean Claude Habaguhirwa was arrested on Tuesday following an ongoing audit done on the cooperative that discovered alterations in financial records.

Police spokesperson for the Northern Region, Inspector of Police (IP) Innocent Gasasira said that upon receiving the complaint, the cashier who was the prime suspect, was taken into custody as the audit and investigations proceed.

“The final audit report will shape our investigations and detailed case file on the exact amount missing and probably other people that could be involved,” IP Gasasira said.

IP Gasasira went on to say that mismanagement of public funds is an offence punishable and that “no one is above the law.”

Last month, Police in Nyagatare District also arrested two people including a manager of SAACO in connection with theft of over Rwf4 million from a saving and credit cooperative coffers.

The arrest was also executed after an audit by the central bank that discovered on the first day of their inspection that monies were missing without reason and that all indicators led to the manager and the cashier as people implicated in the loss.

Embezzlement of public or private funds is punishable under article 325 of the penal code with attracting a penalty of up to ten years in prison and a fine of two to five times the value of the embezzled or destroyed property.

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