A Nairobi Chief Magistrate’s Court granted bail to a 20-year-old university student charged with defrauding Sidian Bank of more than Sh7.8 million.
Chief Magistrate Lucas Onyina released Collins Mutuma, a student at Mount Kenya University, who is facing several charges including conspiracy to defraud, stealing, and acquiring and using proceeds of crime.
According to the charge sheet presented before court, the accused, jointly with others not before court, is alleged to have conspired to defraud Sidian Bank of Sh7,882,845 on January 11, 2025, at an unknown location within Kenya by unlawfully siphoning funds from various accounts domiciled at the bank.
In the second count, Mutuma is accused of stealing Sh471,302 from a bank account belonging to Peninah Karoki, funds which were allegedly transferred to his Diamond Trust Bank account number.
The prosecution further told the court that the accused subsequently transferred Sh300,000 and Sh169,900 to M-Pesa accounts registered in the names of Dominic Gichiri Kagwima and Samuel Mukola Matheka, respectively, while knowing or having reason to believe the funds were proceeds of crime.
Mutuma denied all the charges.
Magistrate Onyina Onyina released him on a cash bail of Sh100,000.
The matter will be mentioned on November 7, 2025 for further directions.
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