Four top officials of the Kenya Union of Savings and Credit Cooperative (Kuscco), including an advocate, have been charged with stealing Sh82.8 million. The accused are Ms. Jackline Atieno Omolo, Kuscco’s Managing Director David Magutu Mwangi, George Ochola Owino, and Mercy Muthoni Njeru. The four denied nine charges, including conspiracy to commit a felony, theft, uttering false documents, and money laundering.
The prosecution claims the accused conspired to steal a total of Sh82,826,000, which belonged to Kuscco. They allegedly diverted the funds for the purchase of land (LR23269/35) in Nairobi between October 2022 and April 2022. The accused were also charged with money laundering under the Proceeds of Crime and Anti-Money Laundering Act. Prosecutors said they used accounts at Kenya Commercial Bank (KCB) and M Oriental Bank to conceal the origin of the stolen funds.
Further charges allege that the accused made and presented a forged land sale agreement to KCB Bank, making it appear legitimate while knowing it was fraudulent. Ms. Omolo is also accused of submitting a forged agreement for the sale of the land to KCB Bank, falsely purporting the land belonged to Catherine Wanjiku Mbugua.
The accused denied all charges, and the prosecution did not oppose their release on bond. Defence lawyers requested lenient bail terms, citing cooperation with investigators and the time elapsed since the alleged crimes. The court reserved its ruling on the bail and directed the accused to be remanded at Muthaiga Police Station for five days.
Additionally, the magistrate has ordered George Otieno Ototo, who failed to appear in court, to present himself on February 18, 2025, to face charges.
