An accountant was arrested over a fraudulent scheme that led to the loss of more than Sh16 million at a savings and credit cooperative society (Sacco).
Directorate of Criminal Investigations detectives from the Banking Fraud Investigation Unit (BFIU) apprehended Amos Fikiri Ruwa, a former accountant at the Sacco, for allegedly masterminding the elaborate scheme in collusion with external accomplices.
According to investigators, Ruwa is suspected of authorising cheque transactions using Sacco members’ accounts without their knowledge. The fraudulent dealings initially resulted in a loss of Sh6,852,166, followed by additional transactions amounting to Sh9,161,000, bringing the total loss to Sh16,013,166.
Detectives established that Ruwa allegedly conspired with Mohamed Abdulrahman, a businessman and director of a construction company, whose cheques were reportedly used to siphon funds from the Sacco. Investigations revealed that the money was diverted into accounts belonging to Abdulrahman and other unsuspecting members.
In total, 58 cheques were fraudulently issued, cleared and deposited into the identified accounts.
Forensic analysis further linked Ruwa to forged withdrawal slips that enabled him to siphon off part of the funds. Investigators noted that the cheques in question were never recorded in the Sacco’s cheque ledger, pointing to a deliberate attempt to conceal the fraudulent transactions.
Abdulrahman was arrested on January 17, 2026, and later arraigned in court. Ruwa was arrested on February 14, 2026, and remains in custody pending his court appearance.
The DCI, through the BFIU, reaffirmed its commitment to combating fraud within financial institutions, saying intelligence-led investigations will continue to ensure all those involved in financial crimes are held accountable.
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