An accountant has been arrested over an alleged Sh16 million Sacco fraud following detailed investigations into a cheque manipulation scheme that drained millions from a savings and credit cooperative. Detectives say the case was uncovered after a forensic audit and intelligence-led probe into suspicious transactions.
The suspect, Amos Fikiri Ruwa, a former Sacco accountant, is accused of masterminding the fraud by authorising cheque transactions using members’ accounts and working with external accomplices to move the money undetected. Investigators believe the scheme was executed in phases, beginning with an initial loss of Sh6,852,166, followed by additional fraudulent withdrawals amounting to Sh9,161,000, bringing the total loss to Sh16,013,166.
According to the investigation findings, Ruwa allegedly conspired with businessman Mohamed Abdulrahman, a director of a construction company whose cheques were used in the fraudulent transactions. Authorities say Sacco funds were diverted through multiple accounts, including those of unsuspecting members, to reduce suspicion and complicate tracing efforts.
Detectives established that 58 cheques were fraudulently issued, cleared, and deposited into accounts linked to the accomplices and other account holders. A forensic document review further revealed forged withdrawal slips tied to the suspect, which were allegedly used to siphon off part of the funds. The cheques involved were reportedly never recorded in the official cheque ledger, pointing to deliberate concealment.
Mohamed Abdulrahman was arrested on January 17, 2026, and presented before court. Amos Fikiri Ruwa was later arrested on February 14, 2026, and remains in custody undergoing processing pending his arraignment.
The Directorate of Criminal Investigations said its Banking Fraud Investigation Unit continues to intensify crackdowns on financial fraud within Saccos and other institutions, using forensic audits and intelligence-driven operations to ensure those responsible are brought to justice.
