Businessman Charged With Stealing Sh1.5 Million From Absa Bank
A Nairobi businessman has been charged with stealing Sh1.5 million from multiple bank accounts held at Absa Bank Kenya.
Jeremiah Mutemi Mwangangi appeared before Milimani Chief Magistrate Lucas Onyina, where he denied the theft and money-laundering charges brought against him.
Money Allegedly Stolen From Three Accounts
According to the prosecution, Mwangangi allegedly stole Sh1,499,997 from a Kenya shillings account, a credit card account, and a USD account belonging to Jacob Odhong’ Omolo, all domiciled at Absa Bank Kenya PLC.
The court was told the alleged offence was committed on April 15, 2025, at an unknown location, jointly with another suspect who is still at large.
Deposit Into I&M Bank Account Considered Proceeds of Crime
Prosecutors said that on the same day, Mwangangi deposited Sh999,999 into his I&M Bank account, an amount he is accused of knowing or having reason to believe was stolen or constituted proceeds of crime.
Investigators traced the suspicious deposit, prompting his arrest and arraignment.
Court Grants Cash Bail
Magistrate Onyina ordered the accused to deposit Sh200,000 cash bail to secure his release as the case proceeds.
The matter will be mentioned on a later date for pre-trial.