A man has been charged in connection with the alleged theft of more than Sh4.2 million from DIB Bank, in a case involving claims of theft, acquisition, possession, and laundering of proceeds of crime.
Mohamed Mustaf Adan appeared before Magistrate Robinson Ondieki at the Milimani Law Courts, where he denied all charges brought against him by state prosecutors.
According to the charge sheet, Mustaf is accused of stealing Sh4,199,445.85 between August 20 and August 22, 2024, jointly with others who were not before the court, at an unspecified location within the country. The money is alleged to be the property of DIB Bank.
Mustaf also faces a second charge of acquiring proceeds of crime, after allegedly receiving Sh824,388.03 on August 20, 2024, while knowing the funds were obtained through theft.
In an alternative count, he is charged with possession of proceeds of crime under Section 4(a) as read with Section 16 of the Proceeds of Crime and Anti-Money Laundering Act (2009). Prosecutors claim he received the funds knowing or having reason to believe they were stolen.
The final count against Mustaf is one of money laundering. On August 22, 2024, he allegedly arranged to transfer Sh247,000 from an account at DIB Bank to another account held by Allan Akuno Ochieng’ at KCB Bank, knowing that the funds were proceeds of crime.
The prosecution did not oppose bail, and Magistrate Ondieki released the accused on a Sh2 million bond with alternative terms to be determined should they be requested.
The case will be mentioned after two weeks
