Controller of Budget Dr. Margaret Nyangate Nyakang’o was charged Tuesday with defrauding a woman of KES 29 million, operating a financial firm without a license and forgery.
Nyakang’o pleaded not guilty before Chief Magistrate Alex Ithuku to defrauding Claudia Mutungi over a six-month period, operating the unlicensed FEB Sacco Society Limited and forging Mutungi’s signature in 2019 at the financial firm in Mombasa.
Ithuku released Nyakang’o on a KES 2 million bond. She was ordered to pay an alternative KES 500,000 in cash bail.
The magistrate also issued summonses for Nyakang’o’s co-defendants: Jackson Ngure Wanjau, Susan Kendi Kiambati, James Makena Wanyangi, John Muchira Kithaka and Jane Karuu Ndanyi.
Others charged were Muthoni Eliphas, Joan Chumo, Mercy Ndura Mukora, Gregory Mwangangi Mailu and Michael Kipkirui.
Prosecutors allege Nyakang’o defrauded Mutungi between November 1, 2019, and May 1, 2020 after claiming she operated a real investment firm called FEB Sacco Ltd. She is also charged with running FEB without a proper license from the Sacco Regulatory Authority.
The third count accuses Nyakang’o of forging Mutungi’s signature December 2, 2019 at the FEB office in Mombasa.
The Office of the Director of Public Prosecutions’ coastal regional boss Peter Kiprop led the prosecution alongside attorney Alex Gituma.
Nyakang’o is due back in court December 13.
