Accountant Arrested Over Sh16 Million Sacco Fraud

Nairobi, Kenya – Detectives from the Directorate of Criminal Investigations (DCI) have arrested an accountant accused of orchestrating a fraudulent scheme that led to the loss of more than Sh16 million from a Savings and Credit Cooperative Organization (Sacco).

The suspect, Amos Fikiri Ruwa, a former accountant at the Sacco, is alleged to have masterminded the scheme by authorizing fraudulent cheque transactions using members’ accounts in collusion with external accomplices.

According to investigators from the DCI’s Banking Fraud Investigation Unit (BFIU), the Sacco initially lost Sh6,852,166 through suspicious transactions. Further investigations uncovered additional fraudulent withdrawals amounting to Sh9,161,000, bringing the total loss to Sh16,013,166.

Detectives revealed 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. The fraudulent cheques were allegedly cleared and the money deposited into accounts belonging to Abdulrahman and other unsuspecting Sacco members.

Investigations established that a total of 58 cheques were fraudulently issued, cleared, and processed. Forensic analysis further linked Ruwa to forged withdrawal slips that enabled him to siphon portions of the funds. Authorities noted that the cheques in question were never recorded in the Sacco’s official cheque ledger, suggesting a deliberate attempt to conceal the fraudulent activities.

Mohamed Abdulrahman was arrested on January 17, 2026, and subsequently arraigned in court. Ruwa was apprehended on February 14, 2026, and is currently in custody undergoing processing pending his court appearance.

The Directorate of Criminal Investigations, through its Banking Fraud Investigation Unit, reiterated its commitment to combating financial fraud within institutions. Officials emphasized that intelligence-led investigations will continue to ensure that individuals involved in such schemes are held accountable.

The case highlights growing concerns over internal fraud in financial institutions and underscores the importance of robust internal controls to safeguard members’ funds.