Eight Charged with Stealing Sh449 Million Through Fuliza

Eight individuals have been charged with stealing Sh449.6 million from NCBA bank through its overdraft service, Fuliza.

Two others were released after the court determined that they were not involved in the theft.

Appearing before a Nairobi court, Peter Gitahi Wambui, Mr Isaac Kipkemoi, Mr Moses Rono, Mr Collins Kipyego, Mr Maxwell Njamba, Mr Edwin Kipkorir, Mr Gideon Kipkirui and Mr Gideon Kipkoech entered a not guilty plea.

They faced 13 counts including stealing, conspiracy to steal, engaging in organised criminal activities and possession of stolen property, including identity cards and motor vehicles.

Read: Suspects in Sh449 Million Fuliza Fraud Registered 123,000 SIM Cards – Court Told

The accused had been granted Sh200,000 cash bail, each but the prosecution opposed their release on bond on grounds that the amount of money stolen was huge.

The eight were charged with jointly planning to steal Sh449,647,200 from NCBA Bank between January 1 and July 4, 2022.

The mastermind, Gitahi was apprehended in Kitale and was found in possession of 14 Safaricom registering devices (MoBiGo) and 10 identity cards.

According to the police, Kipkemoi had 760 Sim cards, Njamba had 2,014, and Kipkorir had 281, all of which were allegedly used to steal from NCBA.

Read Also: Eight Arrested Over Alleged Sh500 Million Fuliza Fraud

The police disclosed that more than 123,000 mobile phone subscribers joined Fuliza, took out loans between January and July 2022, and then turned off their Sim cards.

Last week, police had sought to detain the accused for 14 days to allow more time for investigations.

The defence lawyer, Ham Lagat, argued that most of clients were students and had no intention of jumping bail.

The court will make a decision regarding their bond release on Thursday.

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Written by Kahawa Tungu


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