How a Sacco Accountant Siphoned Ksh16 Million

Detectives from the Banking Fraud Investigation Unit (BFIU) have arrested a former accountant linked to a Ksh16 million heist at a local Sacco.

According to the Directorate of Criminal Investigation(DCI), the suspect, Amos Fikiri Ruwa, was apprehended on Saturday, February 14, 2026.

“An accountant has been apprehended for masterminding a fraudulent scheme that led to a sacco lose over Ksh16 million, thanks to meticulous investigations by detectives from the Banking Fraud Investigation Unit (BFIU),” the DCI report read.

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The DCI noted that the suspect, who is a former accountant of the Sacco, allegedly authorised cheque transactions using members’ accounts, collaborating with external accomplices to perpetrate the scheme.

Anatomy of the Heist

The report further revealed that Ruwa allegedly exploited his position to bypass internal controls, siphoning funds in two major waves, leading to a loss of Ksh 16 million.

“As a result of these fraudulent activities, the Sacco lost Sh6,852,166 initially, followed by additional fraudulent transactions amounting to Ksh 9,161,000, culminating in a total loss of Ksh 16,013,166,” the DCI statement read.

Investigators revealed that Ruwa did not act alone. He reportedly conspired with Mohamed Abdulrahman, a businessman and director of a construction firm whose fraudulent cheques were cashed, diverting the Sacco’s funds into various unsuspecting members’ accounts.

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Forensic Trail

DCI further noted that a total of 58 cheques were fraudulently issued, cleared, and deposited into accounts belonging to Abdulrahman and other unsuspecting members.

“Forensic analysis revealed that forged withdrawal slips were linked to Ruwa, enabling him to siphon off portions of the funds. These cheques were never recorded in the cheque ledger, indicating a deliberate attempt to conceal the fraudulent activities,” part of the report stated.

The first suspect, Mohamed Abdulrahman, was arrested on January 17, 2026, and subsequently presented before the court. Amos Fikiri Ruwa was arrested Yesterday, February 14, 2026, and is in custody undergoing processing, pending his arraignment.

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The image shows DCI Office headquarters based in Kiambu
PHOTO/DCI/Acc