Nairobi, June 18 -- Some senior officials of the National Treasury and their cronies have been hit with asset seizures, including buildings and bank accounts, after investigations unearthed the embezzlement of more than Sh1.55 billion from a UN agency-backed rural financial inclusion programme, in a series of transactions including transfer of funds to personal accounts.

Investigations by the Ethics and Anti-Corruption Commission (EACC) revealed how officials took advantage of weak management systems to siphon funds meant for the Rural Outreach of Financial Innovations and Technologies (PROFIT), jointly funded by the Kenyan government and the International Fund for Agricultural Development (IFAD).

This is in reliance on court documents ...