George Ototo: Profile of Embattled Ex-KUSCCO Boss Wanted Over Kshs 13 Billion Fraud Scandal
DCI detectives are actively searching for former KUSCCO Managing Director George Ototo in connection with the loss of billions at the Sacco.
Ototo, along with former Chairman George Magutu—who is also on the run—is implicated in a multi-billion-shilling scandal involving forged signatures, manipulated records, and the systematic theft of Kshs 13 billion in savings.
Both executives were dismissed in 2024 after an inspection by the Sacco Societies Regulatory Authority (SASRA), ordered by then Co-operatives and MSMEs Development CS Simon Chelugui, to investigate suspected violations of Sacco regulations by KUSCCO.
George Ototo started his career at KUSCCO as a junior clerk and swiftly climbed the corporate ranks, becoming Group Managing Director in 2010. Over his 14-year tenure, he was instrumental in championing the growth and development of SACCOs across Kenya.
He played a key role in advancing SACCOs through advocacy and the delivery of high-quality technical and financial products. His leadership focused on strengthening the financial stability and expansion of cooperative societies across the country.
Before his removal from KUSCCO’s leadership, Ototo’s influence extended to the global stage.
In 2016, he was elected to the 14-member Board of Directors of the World Council of Credit Unions (WOCCU) for a two-year term, marking his first tenure in the international body.
In 2020, he was re-elected to the WOCCU Board for another two-year term and later appointed as the committee chairman and treasurer of the Audit and Risk Committee.
In October 2023, concerns emerged over KUSCCO’s unregulated deposit-taking activities, prompting the organization to announce the departure of both Ototo and Magutu. David Langat was appointed as the new Chairman, while Arnold Munene took over as Acting Managing Director.
Before these developments, Ototo was highly regarded for his role in strengthening Kenya’s cooperative movement. He was instrumental in advocating for SACCOs and enhancing their access to quality technical and financial products. His leadership prioritized the financial stability and growth of cooperative societies nationwide.
