A man and three companies have been charged at the Milimani Law Courts over the alleged theft and laundering of millions of shillings belonging to Old Mutual Life Assurance Kenya Limited.
Bernard Kariuki Ngugi appeared before Milimani Magistrate Daisy Mutai on Friday, October 23, 2026, where he denied five charges brought against him alongside Donritz Global Limited, Auris General Merchants Limited and Pedram Global Limited.
Ngugi faces a charge of stealing by servant contrary to Section 281 of the Penal Code.
He is accused of stealing Sh89,579,274.34 from Old Mutual Life Assurance Kenya Limited between 2018 and November 10, 2025, while employed by the company and entrusted with the funds by virtue of his employment.
He also faces three counts of money laundering under the Proceeds of Crime and Anti-Money Laundering Act.
The prosecution alleges that Ngugi and the three companies entered into arrangements to transfer and transact funds allegedly obtained from the theft, with the intention of concealing or disguising their illicit source and ownership.
One of the money laundering counts involves an alleged transaction of more than Sh89 million into an account belonging to Auris General Merchants Limited, while another alleges a transaction of more than Sh19.6 million into an account belonging to Donritz Global Limited.
A fourth count alleges that more than Sh21.6 million was transferred into an account belonging to Pedram Global Limited as part of the alleged money laundering scheme.
Ngugi and the companies also face a fifth count of acquisition of proceeds of crime, with the prosecution alleging that they acquired, possessed and utilised funds amounting to Sh89,579,274.34, knowing or having reasonable grounds to believe that the money was proceeds of crime.
