Businessman Faces Court Over Sh36 Million Credit Bank Fraud Allegations

A Nairobi businessman appeared in court this week to face charges related to an alleged elaborate fraud scheme that cost Credit Bank of Kenya over Sh36 million.

William Kuria Josiah, along with his company Techspa General Supplies Limited, stands accused of engaging in organized crime by falsely obtaining financial benefits totaling Sh36,460,366.80 from the financial institution.

The substantial sum was reportedly guaranteed by Pamela Namusia Ndobi.

The prosecution alleges the fraudulent activities occurred over a seven-month period between September 30, 2019, and April 20, 2020, within Nairobi County.

Court documents indicate Josiah worked alongside an unnamed accomplice who has not been brought before the court.

Beyond the primary fraud charges, Josiah faces additional counts of forgery and uttering false documents.

The most serious of these allegations centers on a letter dated April 20, 2020, from Techspa General Supplies Ltd to Kenya Power’s General Manager Finance Department.

According to the charge sheet, Josiah allegedly forged Ndobi’s signature on the correspondence, falsely claiming he had met with her and secured her agreement to redirect payments for a Kenya Power tender to a specific NCBA bank account. Prosecutors maintain Josiah knew these claims were entirely fabricated.

The businessman is accused of creating this false documentation with the deliberate intent to deceive Kenya Power’s finance department, potentially redirecting substantial tender payments away from their intended destination.

Appearing before Principal Magistrate Rose Ndobi, Josiah entered a not guilty plea to all charges. The magistrate granted him release on a bond of Sh1 million as the case proceeds through the judicial system.

The case highlights ongoing concerns about financial fraud targeting Kenya’s banking sector and the sophisticated methods allegedly employed to deceive both financial institutions and major utility companies.

The involvement of forged documents and falsified business communications suggests a carefully orchestrated scheme designed to exploit existing business relationships and payment processes.

The matter will return to court for further proceedings as prosecutors prepare to present their evidence against Josiah and his company.