A Nairobi Court has charged Andrew Okoth Onanda, a member of the Mhasibu Sacco Society, with fraudulently obtaining Kes 4.8 million in credit from the society.
Appearing before Milimani Magistrate Gilbert Shikwe, Okoth was accused of obtaining the money between June 30 and July 7, 2023, by falsely presenting a Cooperative Bank cheque to offset a previous loan.
The court heard that the accused misrepresented the transaction and used his membership to incur a liability of Kes 4,893,000.
Okoth also faces money laundering charges for allegedly obtaining es 1,821,700 from Sacco through his mobile phone number between June 30 and July 10, 2023.
He is accused of transferring the proceeds to other accounts, aiding in concealing the illicit funds.
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Similarly, charges include illegally obtaining Kes 922,930 from the Sacco, which he allegedly transferred, making it difficult to trace the source of the funds.
The fraudulent activities led to a loss of over Kes 4 million, which the Sacco Societies Regulatory Authority (SASRA) discovered through an investigation.
Okoth denied the charges and requested lenient bond terms.
The court granted him a bond of Kes 2 million, with an alternative cash bail of Kes 800,000. The case will be mentioned in two weeks.
