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A former Credit Control Officer at an insurance company has been arrested and arraigned over the alleged theft of Sh89.58 million from his former employer.
Bernard Kariuki Ngugi is accused of exploiting his privileged access to the companyβs financial systems between 2018 and November 2025 to facilitate the alleged diversion of millions of shillings through three companies β Auris General Merchants Ltd, Donbitz Global Limited and Pedram Global Limited.
According to detectives from the Banking Fraud Investigations Unit (BFIU), the three companies had no legitimate business relationship with the insurance firm and were allegedly introduced into the payment system through manipulation of the companyβs financial systems.
Investigators allege that Sh35.27 million was channelled through Auris General Merchants Ltd, Sh32.68 million through Donbitz Global Limited and Sh21.63 million through Pedram Global Limited.
Detectives further established that withdrawals and transfers were allegedly conducted in a manner intended to obscure the origin and movement of the funds.
Following investigations, the file was forwarded to the Office of the Director of Public Prosecutions (ODPP), which concurred with the recommendation to charge Ngugi with theft by servant, money laundering and other related offences.
Ngugi was subsequently arrested in Nairobi and arraigned at the Milimani Law Courts on October 23, 2026. He pleaded not guilty to all the charges and was released on a Sh2 million bond or Sh800,000 cash bail.
The case will come up for a pre-trial mention on November 10, 2026.
The DCI says it remains committed to investigating complex financial crimes and tracing funds allegedly obtained through abuse of positions of trust.