DPP charges three bank CEOs, ex-MCA over Sh363mn fraud case
The charges relate to an investigation into the alleged theft of Sh363.32 million from First Assurance Investment Company Limited...
✨ Key Highlights
The Director of Public Prosecutions (DPP) has charged the CEOs of NCBA Bank, KCB Bank, and Co-operative Bank with failing to report suspected proceeds of crime, linked to an alleged Sh363.3 million fraud.
- Sh363.32 million allegedly stolen from First Assurance Investment Company Limited.
- The charges stem from an investigation involving a former nominated Member of the County Assembly (MCA).
- The former MCA faces 120 charges including conspiracy to defraud and stealing, while the bank CEOs are charged with failing to report suspicious transactions under the Proceeds of Crime and Anti-Money Laundering Act.
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DPP Charges Three Bank CEOs Over Sh363 Million Fraud Case - August 2026
The Director of Public Prosecutions has charged the CEOs of NCBA Bank, KCB Bank, and Co-operative Bank with failing to report suspected proceeds of crime linked to an alleged Sh363.3 million fraud case. Meanwhile, NCBA Group announced its net profit for the first half of 2026 rose 12.2% to Sh12.4 billion, driven by strong performance in Kenyan operations and regional subsidiaries. At the same time, governance concerns have surfaced at Uchumi Supermarkets where the court-appointed monitor revealed the company opened new branches without his approval, despite outstanding employee and creditor obligations.
