Four Charged Over Ksh 40 Million Sacco Fraud in Nairobi.
Four individuals have been arraigned in a Nairobi court facing a litany of serious charges over an alleged complex fraud and money laundering scheme that saw more than forty million shillings siphoned from a savings and credit cooperative.
The charges, detailed in official court documents, allege a conspiracy spanning nearly four years and involving the systematic plunder of accounts at Alya Sacco Society Ltd.
The accused persons named in the charge sheet are Evans Mung’ahu Kola, Fredrick Kuva Libako, Mumina Mutinda Inguji, and Kelvin Muhati Ambowi. The Office of the Director of Public Prosecutions has levelled a total of nine distinct counts against them, including conspiracy to defraud, stealing by a servant, and multiple counts of acquiring and using proceeds of crime contrary to the Proceeds of Crime and Anti-Money Laundering Act .
The alleged crime is said to have taken place at the Sacco’s offices within Nairobi County between 20th April 2021 and as recently as 2nd May 2025.
According to the particulars of the lead charge, the four men, jointly with others not before the court, conspired to defraud the Sacco by creating fraudulent deposits and subsequent withdrawals from its Front Office Service Activity accounts.
The prosecution alleges they falsely pretended these transactions were genuine, leading to a loss of Ksh 40,169,165.69. Evans Mung’ahu Kola, described as a manager of Alya Micro Credit Activities at the Sacco, faces a separate count of stealing by servant for the same colossal sum, which is said to have come into his possession by virtue of his employment.
The charges reveal a detailed breakdown of how the allegedly stolen funds were subsequently handled. Several counts under POCAMLA specify the acquisition and use of various portions of the loot, tracing them into specific FOSA account numbers.
For instance, Kola and Inguji are accused of jointly acquiring Ksh 24,980,999.97 between December 2021 and May 2025. In another count, Kola and Libako are alleged to have used Ksh 10,714,999.72 between April 2021 and January 2025. Other amounts specified in the charges include Ksh 1,702,000 and Ksh 2,801,616, all allegedly identified as proceeds of crime which the accused ought to have known were illicit.
