Eleven individuals stand accused of a complex financial fraud involving the alleged siphoning of Ksh 7.9 million from Sidian Bank, with court documents detailing a cascade of charges that outline a meticulous scheme of theft and money laundering. The case, filed at the Milimani Law Courts, centres on events that all allegedly occurred on 11th January 2025, and presents a detailed chronology of the illicit flow of funds through the banking system.
The primary charge levelled against all eleven accused is conspiracy to defraud Sidian Bank of Kenya Shillings Seven Million Eight Hundred and Eighty-Two Thousand Eight Hundred and Forty-Five by unlawfully siphoning funds from various accounts. The specific counts that follow detail the roles of individual defendants. Count II charges Dancan Kipngetich Koech with stealing Ksh 454,028 from an account belonging to Nicholas Mulinge Muindi at Sidian Bank. Count III then charges him with acquiring that same sum, moving it to his Family Bank account, while knowing it was the proceeds of crime.
The pattern continues with Count IV, where Koech is accused of using Ksh 200,000 from his Family Bank account, sending it to a Safaricom M-Pesa number registered to his co-accused, Humphrey Tinega Nyakundi. Subsequent counts focus on Nyakundi: Count V charges him with handling stolen goods by retaining Ksh 300,000 across his M-Pesa numbers, while Count VII charges him with possession of proceeds of crime for receiving Ksh 200,000 from Koech. Count VIII presents a similar possession charge for a further Ksh 100,000 from Koech.
The charges then shifted to John Gikunju Kamau. Count IX accuses him of handling Ksh 295,000, and Count X charges him with handling a separate Ksh 50,200. Count XI details his possession of the Ksh 295,000, which was received from an NCBA account in the name of Loice Nyokabi Githinji into his business Till. Count XII charges him with possession of the Ksh 50,200, which he received from an account belonging to his co-accused, Michael Mugo Njoroge. Count XIII alleges he then used Ksh 49,000 of these funds, moving them from his M-Pesa to his NCBA bank account.
Another strand of the case involves Mediatrix Adhiambo Ochieng. Count XIV charges her with stealing Ksh 450,397 from a Sidian Bank account registered to Peninah Karori. Count XV charges her with acquiring that sum into her ABSA bank account. An alternative charge, Count XVI, accuses her of using Ksh 300,000 from that same ABSA account, transferring it to an Airtel Money number registered to Abigael Chirchir.
The charges against Nicodemus Kianga Kyuli follow a similar structure. Count XVII is for stealing Ksh 468,587 from a Joyna Limited account at Sidian Bank. Count XVIII is for acquiring that sum into his ABSA account. An alternative charge mirrors this acquisition. The subsequent counts, XIX and XX, charge him with using the proceeds, specifically transacting Ksh 220,000 to a Wycliff Ondari Ongaro and Ksh 50,200 to a Vivian Nanjira Khatswenu.
Finally, the charges against Michael Mugo Njoroge are detailed. Count XXI is for handling stolen goods by retaining Ksh 457,100 in his NCBA bank account. Count XXII is for possession of that same sum, which was acquired from an account at Faulu Microfinance Bank in the name of Nelson Wafukho Marauni. Count XXIII charges him with using Ksh 250,000 from his NCBA account, sending it to his own Safaricom M-Pesa number.
The prosecution’s case, which lists witnesses from the bank and affected customers, will seek to prove that this sequence of transactions was a coordinated effort to defraud the bank and launder the proceeds. All eleven accused were arrested and remain in custody awaiting trial at the Milimani Law Courts, where the next steps in this complex financial fraud case will unfold.
