Detectives from the Banking Fraud Investigation Unit (BFIU) have arrested an accountant in connection with masterminding a fraudulent scheme that saw a Sacco lose over Ksh16 million.
In a statement on Sunday, February 15, the Directorate of Criminal Investigations (DCI) said the suspect, Amos Fikiri Ruwa, authorized cheque transactions using members’ accounts.
According to the DCI, the suspect collaborated with other external accomplices to carry out the scheme.
“An accountant has been apprehended for masterminding a fraudulent scheme that led to a sacco lose over Sh16 million, thanks to meticulous investigations by detectives from the Banking Fraud Investigation Unit (BFIU).
“The suspect, Amos Fikiri Ruwa, a former accountant of the Sacco, allegedly authorised cheque transactions using members' accounts, collaborating with external accomplices to perpetrate the scheme,” read the DCI statement.
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The fraudulent scheme led to an initial loss of Ksh6,852,166, followed by additional transactions totaling Ksh9,161,000, bringing the total loss to Ksh16,013,166.
BFIU detectives launched investigations and discovered that Ruwa conspired with Mohamed Abdulrahman, a businessman and director of a construction company, to carry out the scheme.
A total of 58 cheques were fraudulently issued, cleared, and deposited into Abdulrahman’s accounts and those of other unsuspecting members.
“Forensic analysis revealed that forged withdrawal slips were linked to Ruwa, enabling him to siphon off portions of the funds.
“These cheques were never recorded in the cheque ledger, indicating a deliberate attempt to conceal the fraudulent activities,” DCI stated.
Abdulrahman was the first to be arrested on January 17, 2026, and presented in court. Ruwa was apprehended on Saturday, February 14, and is in custody, undergoing processing, pending his arraignment.
This comes days after DCI detectives arrested and arraigned a suspected cybercriminal accused of masterminding a fraud scheme that cost a leading microfinance institution over Ksh11.4 million.
In a statement on Wednesday, February 11, the DCI revealed that the suspect allegedly exploited system vulnerabilities, executed dozens of concealed transactions, and attempted to erase his digital footprints.
"Detectives from the Banking Fraud Investigation Unit (BFIU) have arrested and arraigned cyberfraudster Seth Mwabe Okwanyo, aka Seth Onyango Odhiambo, for orchestrating a fraudulent scheme that siphoned off Ksh11.4 million from a leading microfinance institution," the statement read.
The investigative agency noted that the case was triggered by a formal complaint from the affected financial institution, which flagged suspicious activity within its systems.
"Dedicated investigators immediately sprang into action, uncovering that these thirty-eight transactions were absent from the microfinance institution records yet were flagged as successful to the recipients. This discrepancy indicated that the hackers had deliberately erased both system and database logs to cover their tracks," DCI added.
