Migori County police commander Francis Nguli said they arrested one person purported to be the branch manager after getting reports from residents who were allegedly saving with the microfinance.
Nguli said the suspect was arraigned in court on Wednesday evening and was charged with fraud and forgery.
He said the man is in custody as the Migori Law Court granted police time to complete investigations.
The police commander said their preliminary investigations have indicated that over 3000 people are demanding a total of Ksh.10M from the microfinance company operating in Migori.
He said they are still pursuing the directors of the company so that they can help in the investigations.
“3,000 or more residents of Migori were defrauded by a Microfinance within town, by the name Smart Life. They defrauded these members of the public an amount totaling to Ksh.10 million, in the pretense that they would be paid dividends almost three times more,” Nguli said.
By George Juma
