A Kabete businessman has lost over Sh70,000 to a rogue Sacco which he had used to save his money after he was promised that his money could be tripled.
Josphat Gatiba who works in Nairobi has said that he was attracted to Msoo Sacco after he was promised 'big' by one of their agents that the sacco would extend to him as much loans as he wanted provided he continued saving with them.
"At the beginning I saved Sh100,000 with them for three months after which they gave me a loan. I paid the money thereafter and I again saved Sh70,000 so that I could secure another loan.
I went to their offices for another loan but they told me that they could only offer me a loan of Sh50,000," Gatiba said on Thursday.
"I failed to understand the meaning of that because I was supposed to get three times my savings. On enquiring further they told me that the sacco was encountering some financial problems," he added.
Gatiba says he reported the matter to Kabete police station where the sacco managers were summoned to explain the matter.
They told the police that once they go back to their offices the matter would be sorted out.
The irate businesseman says that upon going to their Kabete office on the agreed day, he met the office locked.
"I decided to call all their numbers but all went unanswered and others are out of service. These people are conmen," he added.
The sacco has branches in Kangemi, Thika, Mwiki and Kabete.