Two directors of the Kenya-based buy-now-pay-later company Flexitech Group Limited have been arrested following allegations that they misappropriated more than Sh31 million meant for a major retailer.
The Directorate of Criminal Investigations said Martin Kariuki Maina and Johnson Gituma Mwangi were picked up in Roysambu after the retailer raised concerns about missing payments. Flexitech had been collecting money from customers who bought goods on credit, with the funds meant to be passed on to the retailer.
Investigators claim the directors diverted the money for personal use instead of remitting it. Detectives are continuing to trace the funds and are looking for other individuals believed to have been involved.
The two men remain in custody as they prepare to appear before the Milimani Law Courts, where they are expected to be charged with stealing by agent. The allegations have not yet been proved in court.
