Murang’a East DC George Natembeya has raised the alarm over the increased number of unlicenced micro-finance institutions which he claims are extorting money from members of the public. The Dc said some individuals have been masquerading as money lending institutions, but are laundering money which is an illegal business activity.
Speaking at his office, Natembeya said he is concerned over the number of people who have lost property to these unscrupulous traders. He said teachers and police officers from the area have fallen victim and lose their salaries to the conmen. “I was so much disappointed to note that most of the teachers and police officers are not earning anything at the end of the month and that explains why they are often out of office and go elsewhere in search of money to make the ends meet,” said the DC.