BangBet Employee Charged With Stealing Sh9.2M In An Insider Fraud

A Chinese national working with a betting firm was on Tuesday arraigned before a Nairobi court for allegedly stealing Sh9.2 million from his employer.

Xiao Kexian an employee of betting firm BangBet appeared before a Kibera Law Court to face the charges.

Appearing before Senior Principal Magistrate Samson Temu, Xiao denied the charges and was remanded at the Industrial Area Remand and Allocation pending a probation report on him.

This was after the prosecution told the court he was evading court sessions. The court set October 22 as the mention date for directions on bail applications.

The charge sheet read that;

“Xiao Kexian, on diverse dates between 1st June, 2024 and 31st July, 2024 at an unknown place in Nairobi county within the Republic of Kenya, jointly with others not before court, stole cash Sh9,225,312 (Nine million, two hundred and twenty-five thousand, three hundred and twelve Kenya shillings) the property of Anne Wangare Kinyungo.”

Police had been looking for the suspect for days to face the charges before he was arrested on Monday.

The said stealing happened at a betting company that the businesswoman runs in the city.

She lodged a complaint and the police investigated the case and established that the Chinese man who was an employee at BangBet allegedly working in liaison with his co-workers committed the offense and are suspected to be a larger syndicate that has been running deceitful operations in the firm driving into major losses.

The other workers have been listed as witnesses in the case.

The suspect was shocked when the court ruled he be remanded to wait for his probation report.

He shouted saying he would not escape the court process while pleading to be released.

The pleas were however not heard as he was led to the court cells waiting for his transportation to remand.

Police say they are still investigating the saga and more suspects may be charged as the probe progresses.

The case of internal fraud opens a can of worms as of what other similar cases would be going on at BangBet and other betting firms.

Police say such complaints have been on the rise in the industry with most of the cases still under probe.