Five officials of the Kenya Union of Savings and Credit Cooperatives (KUSCCO) who are facing charges of stealing Sh83 million from the lender have been granted bail. The decision came after they were arraigned in a Nairobi court, where they faced allegations of embezzling the funds. Milimani Magistrate Dolphina Alego issued the bail terms, allowing the accused to secure their release while awaiting trial.
The accused include George Magutu Mwangi, George Otieno, George Owino, Jackline Atieno, and Mercy Muthoni. Each of them was granted a specific bond and cash bail, depending on their individual cases. Magistrate Alego’s ruling was seen as a standard legal procedure following the serious nature of the charges leveled against the KUSCCO officials.
Magutu was ordered to deposit a bond of Sh10 million with two sureties of a similar amount or a cash bail of Sh3 million. In addition, the court requested that Magutu provide three contact persons to ensure compliance with the bail conditions. Similarly, George Otieno was required to deposit Sh10 million in bond, or a cash bail of Sh3 million with three contact persons.
George Owino was granted a bond of Sh7 million, with two sureties of a similar amount or a cash bail of Sh3 million. Jackline Atieno received the same bond requirement as George Otieno, while Mercy Muthoni was granted a bond of Sh7 million or a cash bail of Sh2.5 million, alongside the three required contact persons.
The KUSCCO officials’ bail conditions come at a time when the union is facing significant scrutiny. The theft of Sh83 million from the organization has raised serious concerns about financial mismanagement and corruption. KUSCCO, which serves as the umbrella body for SACCOs across Kenya, plays a crucial role in supporting savings and credit cooperatives in the country.
As the case progresses, the court will continue to examine the evidence presented by the prosecution, which claims that the five individuals were involved in the fraudulent activities that led to the massive theft. Their release on bail does not indicate the end of the legal proceedings, but merely a temporary arrangement while they await further court hearings.
The court’s decision to grant bail reflects the legal principle of ensuring that accused individuals have the right to be presumed innocent until proven guilty, allowing them to continue with their lives while facing trial. The case has drawn widespread attention, especially given KUSCCO’s pivotal role in Kenya’s financial sector.
