The Chief Executive Officer of Capital DT Sacco Society Ltd, Stephen Murithi, was on Tuesday arraigned before a Meru court and charged with three counts relating to the alleged theft of Ksh39 million) from the Sacco.
Murithi was arrested a day earlier by fraud investigation officers from the Sacco Societies Regulatory Authority (SASRA) over alleged financial impropriety at the institution. He was processed and held in custody before being taken to court, where he took a plea on all three counts.
According to the charge sheet filed at the Meru Law Courts (Court File No. E974/2026), Murithi faces the following counts:
Count I: Stealing by Servant Contrary to Section 281 of the Penal Code. The prosecution alleges that on diverse dates between 23rd February 2026 and 25th April 2026, at Capital DT Sacco Society’s head office in Meru County, Murithi, while serving as the Sacco’s CEO, stole Ksh39,000,000, the property of Capital DT Sacco Society, which came into his possession by virtue of his employment.
Count II: Acquisition of Proceeds of Crime Contrary to Section 4(a) as read with Section 16(1)(a) of the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA), 2009. The charge sheet states that, on the same diverse dates, Murithi acquired the Ksh39 million by withdrawing the cash from a bank branch in Meru knowing at the time of acquisition that the funds formed part of the proceeds of crime.
Count III — Use of Proceeds of Crime Contrary to Section 4(b) as read with Section 16(1)(a) of POCAMLA. This count mirrors the second, alleging that Murithi used the Ksh39 million by withdrawing it from the same bank account, again while allegedly aware, or having reason to believe, that the money constituted proceeds of crime.
Capital DT Sacco Society is named as the complainant in the matter.
Murithi took a plea and was granted a bond of Ksh1 million, with an alternative cash bail of Ksh500,000, subject to two sureties.
The case will be mentioned on 19th August 2026, with the substantive hearing scheduled to begin on 15th October 2026.
The charge sheet was received at the Office of the Director of Public Prosecutions, Meru station, and signed off by the prosecutor.
Under Kenyan law, he is presumed innocent until proven guilty.
———————————————————————————————-
In another case, the Chief Executive Officer of Dhabiti Savings and Credit Cooperative Society Ltd has been charged with stealing and laundering more than Ksh 20.7 million from the Sacco.
Titus Miriti Munjuri appeared before the Maua Law Courts facing three counts, according to a charge sheet filed by the Office of the Director of Public Prosecutions on Monday. The case follows a complaint lodged at Maua Police Station under OB Number 49/13/09/2026.
The first count accuses Munjuri of stealing by servant, contrary to Section 281 of the Penal Code. Prosecutors allege that between 2nd January and 7th June 2025, while serving as CEO at the Sacco’s head office in Maua, he stole Ksh 20,693,600 that had come into his possession by virtue of his position.
The second and third counts relate to the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA), 2009. Count II accuses him of acquiring the funds by fraudulently taking the cash from the Sacco’s head office treasury officer, Andrew Ngucuba Chokera, while count III alleges he subsequently used the same funds, in both instances allegedly knowing or having reason to know the money constituted proceeds of crime.
Investigations into the matter were carried out by the SACCO Societies Fraud Investigation Unit, operating under the SACCO Societies Regulatory Authority (SASRA).
He was granted a bond of Ksh 2 million, with an alternative cash bail of Ksh 1 million.
The case has been scheduled for pretrial directions on 28th September 2026.
The accused remains presumed innocent until proven guilty by a court of law.
A SACCO Chief Executive Officer has been arrested by the SACCO Societies Fraud Investigation Unit based at SASRA and arraigned before the Maua Law Courts over the alleged misappropriation of Ksh 20,693,600 belonging to Dhabiti Savings and Credit Cooperative Society Ltd.
