A member of the Mhasibu Sacco Society found himself in hot water today, facing serious charges in court for allegedly obtaining credit through false pretenses.
Andrew Okoth Onanda was brought before Magistrate Gilbert Shikwe, where he was accused of fraudulently securing a staggering Ksh 4.8 million from Mhasibu Sacco Society by purporting to offset a previous loan.
According to court documents, the alleged offenses took place on diverse dates between June 30 and July 7, 2023.
The charge sheet revealed that Okoth, leveraging his status as a member of Mhasibu Sacco Society Ltd, incurring a liability amounting to Ksh 4,893,000.
He reportedly produced a Cooperative Bank cheque under false pretenses in a bid to settle an existing loan.
In addition to the fraud charges, Okoth faces allegations of money laundering.
Prosecutors claim that between June 30 and July 10, 2023, he knowingly acquired Ksh 1,821,700 from the Sacco, which they assert are proceeds of crime.
Court records indicate he allegedly funneled the illicit funds into various accounts, shrouding the source and complicating efforts to track the trail.
Further compounding his legal troubles, Okoth stands accused of illegally obtaining another Ksh 922,930 from the Sacco, again deemed as proceeds of crime.
It’s alleged that he utilized part of this sum while transferring the remainder, making any future tracing of the funds nearly impossible.
Upon denying all charges against him, Okoth was granted a Ksh 2 million bond, or an alternative cash bail of Ksh 800,000.
