20-year-old man charged with siphoning Ksh8.3M from Sidian Bank
A 20-year-old man has been charged with three counts of siphoning money from Sidian Bank accounts to his Diamond Trust Bank account.
Collins Mutuma was on Monday, October 27, 2025, charged with conspiracy to defraud contrary to section 317 of the Penal Code.
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According to the charge sheet, Mutuma is said to have unlawfully, together with others not in court, siphoned Ksh7,882,845 from different accounts at the Sidian Bank.
“On January 11, 2025, at an unknown place within the Republic of Kenya, jointly with others not before court, you conspired with intent to defraud Sidian Bank of Ksh7,882,845 by unlawfully siphoning funds from various bank accounts domiciled at the said bank,” part of the charges read.
On the second count, the accused, with others not before the court, has been charged with stealing contrary to section 268(1) as read with section 275 of the Penal Code.
The court papers state that the accused, with others on the same date, through a Diamond Trust Bank account, stole a sum of Ksh 471,302 from a Sidian Bank account owned by one Peninah Karoki.
Mutuma has also been charged with the acquisition of proceeds of crime contrary to section 4(a) as read with section 16(1)(a) of the Proceeds of Crime and Anti-Money Laundering Act.
“On January 11, 2025, within the Republic of Kenya, jointly with others not before the court, through the Diamond Trust Bank Account, you stole Ksh471,302 from the Sidian Bank Limited Account registered in the name of Peninah Karoki, which, at the time of acquisition, you knew that the said amount formed part of the proceeds of crime, to wit, money acquired through stealing,” part of the charges read.
The court heard that on the same date, Mutuma transferred Ksh300,000 from his Diamond Trust Bank, where he had transferred the money, to one Dominic Gichiri Kagwina whilst knowing that the same was part of the proceeds of crime.
Notably, he also transferred Ksh169,000 from his Diamond Trust Bank account to an Mpesa number registered under Samuel Mukola Matheka on the same date; money he knew well had been acquired through stealing.
Denies charges
Appearing before Milimani Chief Magistrate Lucas Onyina, Mutuma denied all the charges, and a charge of not guilty was entered.
The court released him on a cash bail of Ksh200,000.
“The accused is handed a cash bail of Ksh200,000 with one contact person; a pre-trial for the case will be on November 3, 2025,” Magistrate Onyina ruled.
