Detectives from the Directorate of Criminal Investigations (DCI) have arrested a former accountant accused of masterminding a multimillion-shilling fraud scheme that cost a Savings and Credit Cooperative Organization (SACCO) more than Khs16 million.
In a social media statement issued earlier today, the DCI confirmed that officers from its Banking Fraud Investigation Unit (BFIU) apprehended Amos Fikiri Ruwa, who allegedly authorised fraudulent cheque transactions using members’ accounts in collusion with external accomplices.
“An accountant has been apprehended for masterminding a fraudulent scheme that led to a SACCO losing over Sh16 million, thanks to meticulous investigations by detectives from the Banking Fraud Investigation Unit,” the DCI stated.
Investigations revealed that Ruwa initially oversaw fraudulent transactions amounting to KSh6,852,166 before detectives uncovered additional irregular payments worth KSh9,161,000, bringing the total loss toK Sh16,013,166.
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The scheme involved 58 cheques that were fraudulently issued, cleared, and deposited into accounts belonging to businessman Mohamed Abdulrahman, a director of a construction company, and other unsuspecting SACCO members.
Forensic analysis linked Ruwa to forged withdrawal slips used to siphon part of the funds. Detectives noted that the cheques were never recorded in the SACCO’s ledger, pointing to a deliberate attempt to conceal the fraud.
The arrest of Ruwa follows the earlier capture of Abdulrahman on January 17, 2026. He was arraigned in court after being implicated in the fraudulent transactions. Ruwa, who was arrested on February 14, remains in custody pending his arraignment on Monday.
The DCI emphasized its commitment to combating financial fraud, noting that intelligence-led investigations will continue until all individuals involved in the scheme are held accountable.
By Masaki Enock
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