Seven Invesco Assurance Company Staffs including directors have been charged with Sh 300M fraud.
Albert Karakacha,Daniel Wekesa,Michael Ng’ang’a,Ruth Wangari,Antony Githinji,Hilda Wambui and Lameck Gisore appeared before Principal Magistrate Paul Mutai and denied the charges.
They were charged that on diverse dates between April 26,2024 and August 13,2024 within the Republic of Kenya,being an insurance company,conspired with each other and with others before court,with the rest to defraud premium policyholders from the 27 branches of the Invesco Assurance Company Limited.
The money was illegally and irregularly transferred to the Complaint Insurance Agency’s Account held at the M Oriental Bank,Sameer Park Branch,in violation of the Insurance Act.
The faced another count of Insurance Fraud against the law.
Karakacha,Wekesa and Michael being the Director,the Chief Finance Officer and the Senior Accountant of Invesco Assurance and the last four being of the Compliant Insurance Agency Limited respectively conspired with each other and with others before court,with the rest to defraud premium policyholders from the 27 branches of the Invesco Assurance Company Limited.
They were released on Sh 300,000 cash bail.
