Some of the suspects in Court on May 26, 2025./PHOTO:OJOO ABISAKI
Nine individuals linked to a suspected multimillion-shilling insurance fraud scheme will enter pleas on Thursday, May 29, 2025, following a court ruling.
The suspects—Albert Karakacha Muhavani, Daniel Wekesa Nalyanya, Michael Ng'ang'a Kibara, Ruth Wangari Mwasalu, Anthony Githinji Ngerere, Hildah Wambui Karanja, and Lameck Gisore Ongere—were arrested on May 21 and are facing charges of conspiracy to defraud.
Invesco Assurance Company Limited and Complaints Assurance Company Limited have also been named in the case.
According to the prosecution, the suspects conspired to irregularly transfer Sh309,207,570 from Invesco Assurance to an account held by Complaints Insurance Agency at M Oriental Bank, Sameer Park Branch.
They also face a second charge related to vesting the assets of an insurance company in a name other than that of the insurer, a move the authorities say was illegal.
When the suspects appeared before the court on May 21, plea-taking was delayed after defence lawyers raised objections to the charges.
The defence argued that the accused cannot be compelled to plead to an offence that, at the time of the alleged act, may not have been clearly defined as a crime.
They accused the Office of the Director of Public Prosecutions (ODPP) of overreaching and misapplying its authority.
On Monday, May 26, Principal Magistrate Mutai ruled that the accused will take their pleas on Thursday as scheduled.
The suspects remain out of custody on a police bond of Sh100,000 each, which the court has ordered to be extended.
