Former Monaco Properties director Charged with stealing 500,000


A former Director of Monaco Properties Limited has been charged with stealing Sh 500,000 from the said company.

Irene Nyaboke Ondieki is alleged to have committed the offence on 28th April 2016 at Bank of Africa Ngong Road Branch in Kilimani within Nairobi County.

Ondieki was also charged with two counts of issuing bad cheques of Bank of Africa for Sh 250,000 each knowing that the said account had insufficient funds.

Lawyer Josephine Arasa was watching brief for Monaco Properties Limited.

The accused denied the charges before Chief Magistrate Francis Andayi and was granted a bond of Sh 200,000. The case will be mentioned on 30th May.

It is alleged that investigations revealed that Ondieki had transferred the money in question to her own bank account instead of that of a property that Monaco properties had identified for purchase.

When she was initially arrested and released on a police bond. She offered to return the money but instead issued bounced cheques.

So far, four witnesses are set to testify in the matter.