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4 bank workers freed on Sh10m cash bail each

STANDARD-CHARTEREDNAIROBI, Kenya, Aug 6 – Four Standard Chartered Bank employees who were charged with stealing a whooping Sh328.6 million from the bank, have been released on a Sh10 million cash bail or Sh20 million surety each.

The employees, who appeared before Senior Principal Magistrate Joseph Karanja on Tuesday, are accused of stealing the monies on July 8 from the bank’s head offices in Nairobi.

The four employees have denied the charges and their case is schedule to come up for hearing on November 6.

Collins Omuga, Mike Oundo, Selina Sande and James Mwangi were jointly accused of the theft of the money which is said to have been in foreign currency.

Omuga, Oundo and Sande appeared before the court on Monday and were remanded at the Kileleshwa Police Station while Mwangi was arraigned in court on Tuesday.

The prosecution said that the four had other accomplices who have not yet been arraigned in court.

The bank is yet to recover the stolen money.

This is not the first time Kenyan banks have lost money to theft, which is mostly orchestrated by techno savvy bank employees.

Last July a report by Deloitte showed that Kenyan banks lost about Sh3 billion to fraud in the year 2011 alone.

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In 2012, about Sh1.5 billion was lost with majority of the money stolen from customer accounts.

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