The Directorate of Criminal Investigations (DCI) has arrested an accountant accused of allegedly stealing KSh 16 million from a Sacco, in a case that has drawn attention to financial fraud within cooperative institutions.
According to DCI officials, the suspect, in collusion with an accomplice identified as Mohamed Abdulrahman, allegedly authorized fraudulent cheques using the accounts of Sacco members, diverting significant sums of money for personal gain.
DCI detectives narrated that the fraudulent activities were carefully orchestrated, with the suspect exploiting their position of trust to manipulate financial records.
The investigation revealed that the unauthorized transactions went unnoticed for a period, highlighting vulnerabilities in internal control systems and the importance of regular audits within financial institutions.
The accomplice, Abdulrahman, is reported to have assisted in facilitating the transactions, making the scheme more sophisticated and harder to detect.
Officials from the DCI emphasized that the arrest reflects their ongoing commitment to tackling financial crimes and safeguarding members’ resources in cooperative societies.
They warned that individuals involved in embezzlement and fraud would be held accountable under the law, and that law enforcement agencies are actively pursuing investigations to recover stolen funds.
The case has drawn public attention due to the large sum involved and the betrayal of trust between financial institutions and their clients.
Sacco members expressed concern about the safety of their deposits and called for stronger oversight measures to prevent similar incidents in the future.
The DCI assured the public that stringent action would continue against perpetrators of financial fraud, stressing the importance of transparency and accountability in all financial dealings.
The arrested accountant is expected to face charges of theft, fraud, and conspiracy, with authorities seeking to recover the embezzled KSh 16 million.
