Five officials of the Kenya Union of Saving and Credit Cooperations (Kuscco) charged with stealing Sh83 m from the lender have been released on a cumulative Sh14.5 million cash bail.
The five are George Magutu Mwangi, George Otieno, George Owino, Jackline Atieno and Mercy Muthoni.
Milimani Magistrate Dolphina Alego ordered Magutu to deposit a bond of Sh10m, two sureties of a similar amount or a cash bail of Sh3m with three contact persons.
For George Otienothe magistrate directed he deposit a bond of Sh10m with two sureties of a similar amount or a cash bail of Sh3m with three contact persons.
George Ochola Owino was granted a bond of Sh7m, two sureties of a similar amount or a cash bail of Sh3m with three contact persons.
Jackline Atieno was handed a bond of Sh10 m with two sureties of a similar amount or bail of Sh3m with three contact persons.
Mercy Muthoni was handed a bond of Sh7m with two sureties of a similar amount or bail of Sh2.5m with three contact persons.
The accused persons face other charges of Money laundering, stealing by directors and making false documents.
The money laundering charge faces George Maguztu, George Otieno, George Ochola and Jackline It's alleged that on diverse dates between October 9, 2020 and April 30, 2022, with others not before court at Nairobi, knowing or while they reasonably ought to have known that the Ksh82,826,000 formed part of the proceeds of crime received from Kenya Union of Saving & Credit Cooperatives Ltd (KUSCCO) entered into agreement for sale of Land LR No.23269/35 to conceal the nature and source of the monies.
The charge sheet indicates the monies held were at KCB and M Oriental Bank respectively both under the account name of Jackline P. A Omolo & Advocates whilst having reasons to believe that the said monies were proceeds of crime.
