A jubilee insurance company employee has been arraigned in court charged with conspiracy to defraud contrary to section 317 of the penal code and false accounting at Jubilee Insurance Company limited head office
Alex Kihara Mwangi was charged with the first offence of conspiracy to defraud jubilee insurance company 24.4 million shillings jointly with others not before the court, by means of electronic data manipulation between March 2014 and January 2017.
Mwangi is said to have made entries to an account by the name life insurance loans policy belonging to the insurance company, purporting it to show that the said pending loans had been fully paid by the policy holders, by creating virtual money to jubilee insurance company account to clear the said loans.
The accused was also charged with six other counts of false accounting contrary to section 33(b) of the penal code.
Mwangi is accused of making false entries of more than three million shillings on 31st march 2015 at jubilee insurance head office, by means of electronic data manipulation to an account namely life insurance loan policy belonging to one Francis Njau Njogu, purporting to show that on the said date, the said policy loan repayment account had been cleared by creating and paying virtual money to jubilee insurance
The accused denied all the charges before milimani Chief Magistrate Francis Andayi and was released on a bond of 5 million or a cash bail of 2 million shillings.
The case will be heard on 13th April 2017.