Stephen Murithi, the Chief Executive Officer of Capital DT Sacco Society Limited, has been formally charged in a Meru court with theft and money laundering involving Sh39 million belonging to the Sacco.
Murithi was arrested on Monday evening by officers from the Sacco Societies Regulatory Authority (SASRA) Fraud Investigation Unit following allegations of financial impropriety. He was arraigned on Tuesday to face three criminal charges.
Details of the Charges
- Theft by a servant: Between February 23 and April 25, 2026, while serving as CEO, Murithi is alleged to have stolen Sh39 million from Capital DT Sacco, funds that came into his possession by virtue of his employment.
- Acquisition of proceeds of crime: He is accused of withdrawing the said amount in cash from the Sacco's ABC Bank account at the Meru branch, knowing or having reason to believe the money was proceeds of crime.
- Use of proceeds of crime: The prosecution further alleges that Murithi used the stolen funds despite awareness of their illicit origin.
Murithi pleaded not guilty to all charges. The court granted him a bond of Sh1 million or alternatively a cash bail of Sh500,000, and required two sureties.
Next Steps
The case is scheduled for pre-trial directions on August 19, 2026, with the hearing set to begin on October 15, 2026. Murithi was held in custody overnight after the arrest before being presented in court.
