Nairobi, April 28 -- A mystery individual identified only as D21 appeared in more than 60 land transactions at SIC Investment Co-operative and is at the centre of a fraud scheme that drained hundreds of millions of shillings, a forensic audit shows.

The audit by BDO East Africa says D21, modelled as an agent/director, as the mastermind in the flawed land purchase deals between 2016 and 2020 that cost the society hundreds of millions.

In a presentation to members during a meeting last Saturday, auditors detailed how D21 orchestrated transactions involving overpriced and uninhabitable land, parcels without title deeds and even non-existent plots.

"The audit found that deals directly or indirectly done by D21 ended up costing members Sh37...