Four people have been arrested in connection with the theft of more than 16 million shillings from a microfinance institution in Koro Sub County, Gulu district.
The suspects are Denis Otema, Bosco Okello, Francis Onyati, the treasurer of Lobo Loke Savings and Credit Association and Denis Ochira.
The four were arrested by Police, acting on a tip off by the Kabaka Mutesa, the Area secretary for defense.
Mutesa says he found the suspects sharing huge amounts of money in a bush.
He explains that Onyach last week connived with the three to steal 4.8 Million shillings from Lobo Loke Savings and Credit Association.
Three different Women's Microfinance initiatives, are crying foul over the mysterious disappearance of their savings.
During a court hearing yesterday, the suspects pleaded guilty to the charge of theft. They told Court that they stole 3.6 million Shillings from Koro Lapainat women's Group and 8.4 Million shillings from Palenga Walokokwo Women's Group.
Suzan Okeny, the Gulu Grade I magistrate yesterday, ruled that Onyach must also face a second charge of abuse of office.
Three of the accused were however released on a cash bail of 100,000 shillings each.