Former insurance firm officer charged over Sh89.5 million fraud
Originally published by Kahawatungu — Read the original article →
A former credit control officer at an insurance company has been charged over the alleged theft of Sh89.58 million in a suspected insider fraud scheme spanning seven years.
Bernard Kariuki Ngugi was arrested and arraigned at the Milimani Law Courts on Friday, October 23, following investigations by detectives from the Banking Fraud Investigations Unit (BFIU).
According to the Directorate of Criminal Investigations (DCI), the suspect allegedly abused his privileged access to his former employer’s financial systems to divert millions of shillings to three companies that had no legitimate business relationship with the insurer.