Detectives from the Directorate of Criminal Investigations have arrested a former Sacco accountant accused of orchestrating a fraudulent scheme that caused losses exceeding Sh16 million.
The arrest follows investigations by the Banking Fraud Investigation Unit (BFIU) into suspicious cheque transactions linked to the cooperative society.
The suspect, Amos Fikiri Ruwa, allegedly authorised cheque withdrawals using members’ accounts and worked with external accomplices to siphon funds from the Sacco. To Continue Reading, ...Click Here
Investigators say the fraud began with an initial loss of Sh6,852,166, followed by additional fraudulent withdrawals totaling Sh9,161,000, bringing the total loss to Sh16,013,166.
According to detectives, Ruwa conspired with businessman Mohamed Abdulrahman, a director of a construction company whose cheques were fraudulently processed and cashed.
Funds were reportedly diverted into accounts belonging to Abdulrahman and several unsuspecting Sacco members.
Investigations revealed that 58 cheques were fraudulently issued, cleared, and deposited into the targeted accounts. Forensic analysis further linked Ruwa to forged withdrawal slips used to siphon portions of the funds.
Authorities noted that the cheques were never recorded in the official cheque ledger, suggesting a deliberate attempt to conceal the fraudulent transactions.
Abdulrahman was arrested on January 17, 2026, and presented before court. Ruwa was arrested on February 14 and remains in custody pending processing and arraignment.
The DCI said it remains committed to combating fraud within financial institutions through intelligence-led investigations.
Authorities emphasized that all individuals involved in financial crimes will be pursued and held accountable under the law.
The case highlights growing concerns over internal control weaknesses within cooperative societies and underscores the need for strengthened financial oversight to protect members’ savings.