A 24-year-old man appeared in Milimani Law Courts accused of orchestrating a scheme to steal Sh294,800,003 from Family Bank by manipulating pre-paid card balances through unauthorized alterations to the institution's core banking system.
Kevin Kunga Mwaka, 24, was charged with electronic fraud under the Information and Communications Act, with the alleged offenses occurring between November 1, 2018, and January 20, 2019. The prosecution alleged he conspired with unnamed individuals to siphon funds, including a Sh15 million withdrawal on January 19.
The court heard that Mwaka altered data in the bank's computer systems with intent to steal both information and financial assets. He faces additional charges of theft, handling stolen property, and conspiracy to commit a felony.
Arrested on March 4, 2019, Mwaka was released on a cash bail of Sh1 million or a Sh2 million alternative bond after pleading not guilty to all four charges.
