Former Managing Director at Kenya Union of Saving and Credit Cooperatives Limited (KUSCCO) George Ototo and four other officials have been released on bail pending the hearing and determination of the Sh 82 million fraud case
Ototo is charged alongside George Magutu Mwangi, George Ochola Owino, Jackline P. Atieno Omolo (advocates) and Mercy Muthoni Njeru.
Mwangi, Ototo, Owino and Omolo were granted a bond of Sh 10 million each with alternative cash bail of Sh 3 million.
On the other hand, Njeru was granted a bond of Sh 7 million with alternative cash bail of Sh 2.5 million.
Each accused person is also required to add three contact persons upon depositing the cash bail.
In addition, all of them were ordered to deposit their passports in court.
The former officials are accused of conspiring with intent to defraud by diverting the said money which was meant for purchase of a parcel of land LR23269/35 in Nairobi, a fact they knew to be false.
The five are alleged to have committed the offense on diverse dates between October 2020 and April 2022 jointly with others not before court.
Mwangi, Ototo, Owino and Omolo are also charged with stealing the said money which got into their possession by virtue of their employment.
In addition, the four are facing charges of money laundering.
According to the charge sheet, the four are accused that on the above dates, with intent to dispose of, knowing or while reasonably ought to have known that the Sh 82,826,000 formed part of the proceeds of crime received from KUSCCO, entered into an agreement for sale of Land LR No.23269/35 in order to conceal/disguise the nature and source of the money through two accounts held at KCB and M Oriental Bank respectively both under the account name of Jackline P. A Omolo & Advocates whilst having reasons to believe that the said monies were proceeds of crime.
Other charges include forging a sale agreement for the said land and uttering forged documents.
They denied the charges before Senior Principal Magistrate Dolphina Alego.
The case will be mentioned on 5th March 2025.
