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NAIROBI, KENYA: A sting operation conducted at Mumias Sugar Company premises has uncovered an elaborate network through which some of the firm’s employees have been colluding with rogue Kenya Revenue Authority (KRA) officials to defraud the company by under-declaring the quantities of ethanol for export and issuance of falsified allocation letters.
The scam has created a big hole in the sugar miller’s only viable business line, leading to questions about whether the company’s already ‘sinking’ ship will be strong enough to withstand the latest scandal, estimated to have cost it hundreds of millions in lost revenues, making revival an uphill task.
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