According to the charge sheet, Okoth, a member of Mhasibu Sacco, incurred a liability of Ksh 4,893,000 between June 30 and July 7, 2023, by falsely presenting a Cooperative Bank cheque to offset an existing loan. The Sacco later discovered that the transaction was fraudulent
A member of Mhasibu Sacco Society, Andrew Okoth Onanda, has been charged in court with fraudulently obtaining Ksh 4.8 million from the financial institution. Okoth appeared before Milimani Magistrate Gilbert Shikwe, facing charges of obtaining credit by false pretences and money laundering.
According to the charge sheet, Okoth, a member of Mhasibu Sacco, incurred a liability of Ksh 4,893,000 between June 30 and July 7, 2023, by falsely presenting a Cooperative Bank cheque to offset an existing loan. The Sacco later discovered that the transaction was fraudulent.
Further charges included money laundering. The prosecution claims Okoth knowingly obtained Ksh 1,821,700 between June 30 and July 10, 2023, using his mobile number to conceal the proceeds of crime. He allegedly transferred the illicit funds to various accounts, making it difficult to trace their origin.
Additionally, Okoth faces charges related to the illegal acquisition of Ksh 922,930, which he used or transferred in ways that hindered the identification of the money’s source. The fraud, which led to losses exceeding Ksh 4 million, was uncovered by Mhasibu Sacco’s fraud investigation unit and reported to the Sacco regulator.
Okoth denied the charges and requested lenient bond terms. The court granted him a bond of Ksh 2 million or an alternative cash bail of Ksh 800,000. The case will be mentioned again in two weeks.
