NAIROBI, Kenya, April 21 – A suspect in an alleged Sh8.9 million fraud involving Mwietheri Sacco Society Ltd has been arraigned before the Gichugu Law Courts following investigations by detectives from the Sacco Societies Fraud Investigation Unit (SSFIU) under the Sacco Societies Regulatory Authority.
The accused, Alfred Maina Munene, a former employee of the SACCO, was arrested on April 20, 2026 over allegations of fraudulently accessing SACCO funds through mobile banking transactions between April 20, 2025 and December 30, 2025.
Appearing before Sarah Manyura on April 21, the suspect denied four charges, including stealing by servant, computer fraud and handling proceeds of crime.
According to court documents, he is accused of stealing Sh8,929,644.64 and fraudulently obtaining Sh5,039,900 through his mobile line and Sh5,288,200 through his spouse’s mobile subscriber line.
The court granted him a bond of Sh20 million with a surety of a similar amount, with no option for cash bail.
The case highlights the role of SASRA’s internal fraud investigation unit in strengthening oversight and enforcement within the SACCO sector, as regulators step up efforts to curb financial misconduct and safeguard members’ savings.
