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Fraud

Explosive: Scandal over looting of pension funds by GDC management

PHOTO CAPTION: Jared O. Othieno, Managing Director, Geothermal Development Company (GDC)

When the CEO of the Geothermal Development Company (GDC) Eng Jared Othieno discovered his time is over at parastatal and with nothing to show for his deliverables together with years of work in civil service, he went on a looting spree.

He has generally drained the institution’s accounts; looting it dry.

He has been influencing all the procurement decisions at the institution.

The most recent one was for Provision of Security Services, which raised eyebrows and the DCI had to move in.

Eng Othieno has also employed that civil servant’s easy way of looting funds; foreign trips.

He recently travelled abroad and paid himself a whopping Sh15 Million; while staff salary arrears claims of over Sh80Million remain is yet to be paid.

GDC is in tax and suppliers’ payment arrears.

The Company is frequently forced to go to court to lift the blocking of its bank accounts by petitioners, to be able to pay staff salaries which are always done very late.

The corruption is ingrained and as such GDC should be disbanded and KenGen let to handle everything. It is not looking good for GDC. – Writer

Eng. Jared Othieno has formed a cartel comprising Senior Managers, especially those responsible for drilling and infrastructure services at the institution.

EACC should investigate the source of their wealth.

Former KRA Commissioner General John Njiraini, he is the current chairman of the board of Geothermal Development Company

Pension scheme

 The source says that the engineer who once headed the collapsing KPLC has also raided the staff pension fund.

“Not satisfied with that, he has ganged up with General Managers who sit at the Pension Board to now loot the Geothermal development pension scheme. “They have looted the scheme together with service providers and any member of staff who dares raise any question about this is individually called and threatened by Jared himself,” the source revealed

The CEO has been using his office, together with that of his former employees at KPLC who form the leadership of the Umbrella Workers Union, to intimidate officers who talk about the rot in the scheme.

The pension scheme has been going for months without remittances from GDC.

Recently staff were sent email notices to cover up for the under remittances by the General Manager Human resources who also happens to be a backdoor trustee in the scheme.

The GM Human Resources has had a history of corrupt schemes since GDC commenced operations in 2009.

The CEO through his office was rumored to have recently invited two Pension trustees who happen to be whistleblowers to threaten them with their jobs.

“As it stands now, our Nairobi office staff constantly live in fear and cannot confidently receive calls even from peers. Please expose them. Our freedom fighters are being intimidated with letters and transfers”, the source said.

Staff are now calling for an urgent investigation from the DCI, EACC, Asset Recovery and RBA to investigate GDC CEO, General Managers, Managers and the Pension Scheme.


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