A 20-year-old man has been charged in Nairobi with multiple counts of fraud and money laundering after allegedly siphoning nearly KSh8 million from Sidian Bank accounts into his personal account at Diamond Trust Bank (DTB).
Collins Mutuma appeared before Milimani Chief Magistrate Lucas Onyina on Monday, October 27, 2025, where he faced three charges, including conspiracy to defraud, stealing, and acquiring proceeds of crime.
According to the charge sheet, Mutuma together with others not before the court allegedly transferred KSh7,882,845 from various customer accounts at Sidian Bank on January 11, 2025.
“On January 11, 2025, at an unknown place within the Republic of Kenya, jointly with others not before court, you conspired with intent to defraud Sidian Bank of KSh7,882,845 by unlawfully siphoning funds from various bank accounts,” the charge sheet read in part.
Additional theft and money-laundering charges
Mutuma was also accused of stealing KSh471,302 from a Sidian Bank account belonging to Peninah Karoki, funds which were allegedly routed through his Diamond Trust Bank account.
In a related charge under the Proceeds of Crime and Anti-Money Laundering Act, prosecutors claim Mutuma knowingly dealt with stolen funds, transferring KSh300,000 to Dominic Gichiri Kagwina and KSh169,000 to an M-Pesa number registered under Samuel Mukola Matheka.
The prosecution argued that both transactions were part of an attempt to conceal the illicit origin of the funds.
Pleads not guilty and released on bail
Mutuma denied all the charges, and a plea of not guilty was entered. The magistrate released him on a cash bail of KSh200,000 with one contact person as surety.
“The accused is granted a cash bail of KSh200,000 with one contact person. The matter will proceed for pre-trial on November 3, 2025,” ruled Magistrate Onyina.
The Directorate of Criminal Investigations (DCI) is expected to continue probing the matter to trace Mutuma’s alleged accomplices and recover the missing funds.
