It is now emerging that thousands of customers may have lost millions of money invested with the Good Life Sacco.
For instance, in a message to Good Life Sacco, one of the victims, Isaac Macharia complained that since investing Sh. 150,000 in January, he has not received any communication on the state of his investment. He said: “I invested Sh. 150,000 in January, but I have not received any communication on the surety of that investment from your micro-fedha section.”
On Tuesday, the Good Life Sacco offices were closed for the whole day, prompting panic among investors who visited the offices seeking for refunds. This was after news spread that the sacco’s founder and director Obadiah Maina had been arrested on Monday.
According to reports reaching Bizna, the sacco ran by Obadiah Maina may not have been registered with any government financial regulatory body to run financial services.
Obadiah Maina last year came out to share his grass to grace story of how he rose from a Sh. 12,000 IT tutor job to founding the multi-million sacco. Obadiah Maina founded the Good Life Sacco in November 2012 with help from his friends. In six months, he told the media last year, we had registered 3,000 members.
By last year, he had 7,000 customers in his fold and apparently, was looking to turn the sacco into a bank by 2017. The sacco has six branches in Thika, Nyahururu, Nyeri, Nairobi and two in Eldoret. This year, he began selling sacco shares to the public. His wealth is estimated to be in the excess of Sh. 500 million.
please shed more light on this scam and the way forward for the investors at stake.
where was the commissioner or SASRA when this guy was stealing from the public