An elaborate fraudulent scheme that drained over Sh16 million from a local Sacco has been dismantled, following an intensive forensic probe by the Banking Fraud Investigation Unit (BFIU).

The mastermind, Amos Fikiri Ruwa, a former accountant who allegedly exploited his position of trust to orchestrate a systematic siphoning of members’ hard-earned savings.

The heist, which unfolded in two major waves, saw the Sacco lose an initial Sh6.8 million, followed by a second, more brazen series of transactions totaling over Sh9.1 million.

By the time the dust settled, the total deficit stood at Sh16,013,166.

Detectives reveal that Ruwa did not act alone. He allegedly conspired with Mohamed Abdulrahman, a businessman and director of a construction company.

Together, they executed a “cheque-clearing” scheme that bypassed the Sacco’s internal controls. Ruwa reportedly authorized a total of 58 fraudulent cheques, which were never entered into the official cheque ledgers, a move designed to keep the transactions invisible to routine audits.

These cheques were cleverly diverted into various accounts, including those of Abdulrahman’s construction firm and other “unsuspecting” Sacco members.

To finalize the theft, Ruwa allegedly used forged withdrawal slips to siphon off the cash once the cheques had cleared.

The investigation reached a breakthrough on January 17, 2026, when Mohamed Abdulrahman was apprehended and arraigned in court.

However, the mastermind remained at large until this past weekend. On Saturday, February 14, BFIU detectives finally caught up with Ruwa, bringing the month-long manhunt to a close.

Ruwa is currently being held in custody as investigators finalize the processing of the forensic evidence.

He is expected to face a litany of charges, including conspiracy to defraud, forgery, and theft by a person in a position of trust.