Matatu Owners Association chairman charged in Sh309 million insurance scam

Matatu Owners Association chairman Albert Karakacha is among eight people who have been charged with an alleged embezzlement of Sh309 million belonging to Invesco Assurance company.

The eight were arraigned before Milimani Principal Magistrate Paul Mutai yesterday. They denied the three charges levelled against them.

Karakacha was charged alongside Compliant Insurance Agency, Daniel Wekesa Nalyanya, Michael Ng’ang’a Kibara, Ruth Waangari Mwasalu, Antony Githinji Ngerere, Hilda Wambui Karanja, and Lameck Gisore Ongere.

The charge sheet stated that, on different dates between April 26, 2024, and August 13, 2024, the accused conspired with others not before the court to swindle Sh309,207,570 belonging to the Invesco Assurance Company.

The money was said to have been irregularly paid to the Compliant Insurance Agency’s account as premiums.

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The case will be mentioned on June 12.