By Francis Kioko
Date 5th June 2024.
In an exclusive interview with Kitui Times, Dominic Mutunga, the CEO of Universal Traders Sacco (UTS), has robustly countered allegations of financial misconduct and corruption leveled against the Sacco. Mutunga’s candid discussion revealed that these dubious claims were concocted by former UTS Directors and fired employees, dismissed for gross misconduct and loan defaults, seeking revenge through misinformation as the sacco’s legal team gear up in finalizing legal avenue on recovering of the defaulted loans from the estranged dismissed directors and that’s why they are trying to divert the attention for their frustration .
Mutunga’s revelations come amid a wave of accusations aimed at tarnishing the reputation of the highly rated Sacco. Armed with substantial evidence, the CEO dismantled the allegations, showcasing how his team’s vigilance thwarted an attempted embezzlement by these ex-directors/fired employees , thereby protecting members’ savings from potentially catastrophic losses.
Dissecting the Falsehoods.
In a detailed conversation with Kitui Times’ Chief Editor, Mutunga presented evidence debunking the specific allegations made by the fired directors /employees. Here’s a breakdown of the major accusations and the truth behind them:
- Secret Transactions: Contrary to claims of clandestine deals, Mutunga provided clear records demonstrating how transactions by any individual are transparently and duly recorded.
- Money Deals: The purported illicit financial deals were proven baseless. The investigation found no evidence supporting these allegations, confirming they were fabricated.
- Unauthorized Sale: Allegations of unauthorized asset sales were refuted with documentation showing proper protocol was followed, and members were informed of these disposals.
- Questionable Loans: The CEO clarified that UTS’s system does not permit multiple concurrent loans without clearing previous ones. This safeguard made the claims of issuing multiple loans impossible, revealing them as unfounded.
- Lifestyle Audit: Mutunga expressed his readiness for any scrutiny, emphasizing his transparency and commitment to ethical leadership. Protecting Member Interests.
Mutunga assured UTS members that their savings are secure and that the Sacco’s operations remain untainted by corruption. He highlighted the integrity of his management team and reaffirmed his commitment to safeguarding members’ interests against any internal or external threats sending strong warning to the dismissed directors/employees that nothing can distrust the sacco’s attempt to recover all defaulted loans in which the defaultees have not shown efforts to pay forcing the sacco’s legal team to take stringent measures to auction the defaultees asserts to recover the defaulted loans .
“The decision to terminate the employment of these individuals was made to protect the Sacco from their corrupt practices and loan defaults. Their subsequent actions of spreading falsehoods are a vindictive attempt to undermine the Sacco’s credibility,” Mutunga stated.
Standing Firm Against Misinformation
Kitui Times, committed to factual reporting, has thoroughly examined the evidence provided by Mutunga. We conclude that the allegations against UTS’s management are indeed spurious and motivated by personal vendettas of the sacked employees. Our investigation supports that the Sacco’s governance is strong and its financial integrity intact.
We issue a stern warning to the dismissed directors : desist from spreading misinformation. Kitui Times will continue to expose any efforts to deceive the public and harm the reputation of ethical institutions.
Universal Traders Sacco, under Dominic Mutunga’s leadership, remains a model of financial stability and transparency in Kenya. Members can rest assured that their savings are in capable and trustworthy hands.
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