Andrew Okoth Onanda Charged with Money Laundering

Andrew Okoth Onanda

A member of the Mhasibu Sacco Society, Andrew Okoth Onanda, was charged on Monday with fraudulently obtaining Sh4.8 million in credit from the society.

Appearing before Milimani Magistrate Gilbert Shikwe, Okoth was accused of obtaining the money between June 30 and July 7, 2023, by falsely presenting a Cooperative Bank cheque to offset a previous loan.

He is said to have used his membership to incur a liability of Sh4,893,000, misrepresenting the transaction.

Additionally, Andrew Okoth Onanda faces charges of money laundering for allegedly obtaining Sh1,821,700 from the Sacco between June 30 and July 10, 2023, through his mobile phone number. He is accused of transferring the proceeds to other accounts, aiding in the concealment of the illicit funds.

Further charges include illegally obtaining Sh922,930 from Sacco, which he allegedly transferred, making it difficult to trace the source of the funds.

The fraudulent activities led to a loss of over Sh4 million, which was discovered through an investigation by the Sacco Societies Regulatory Authority (SASRA).

Okoth denied the charges and requested lenient bond terms. The court granted him a bond of Sh2 million with an alternative cash bail of Sh800,000. The case will be mentioned in two weeks.