The businessman in court on May 26, 2025/PHOTO: RHODA BOGETA
A Nairobi businessman was on Monday, May 26, 2025, charged with unlawfully obtaining over Sh12 million in a suspected fake bond transaction.
Jacob Okumu Anyumba, trading under the name Risknet Insurance Agency, appeared before Principal Magistrate Carolyne Nyaguthii Mugo at the Milimani Law Courts.
He faces two counts—conspiracy to defraud and obtaining money by false pretense.
The court heard that between December 8 and 13, 2024, Okumu allegedly received Sh12,573,000 from Elvin Leware of Dumpken Enterprises Limited.
He is accused of falsely claiming he could secure a performance bond worth Sh1.8 billion for an affordable housing project in Makuyu Constituency.
According to the prosecution, Okumu misled the complainant into believing the bond was a requirement to carry out a government tender—claims the prosecution says were knowingly false.
The second charge relates to the same transaction, with Okumu accused of obtaining money on December 13, 2024, using similar claims.
His lawyer told the court that Okumu had been cooperating with police and had been reporting regularly for the past three months without fail.
He added that Okumu is a father and sole provider for his family and asked the court to consider granting a cash bail of Sh100,000, despite the amount listed in the charge sheet.
The prosecution did not oppose the bail request but urged the court to consider the seriousness of the charges when setting bond terms.
Magistrate Mugo postponed the case to June 11, 2025, for further directions
