An operations manager for NCBA Bank has been arraigned in court over an alleged sophisticated fraud scheme that saw more than Ksh.52 million vanish from the financial institution’s Kisii branch.
Philip Roitch Kiprono, who served as the branch’s operations manager, faced a staggering 134 criminal charges when he appeared before Senior Principal Magistrate Benard Obae Omwansa at the Kisii Law Courts on Friday.
According to the Office of the Director of Public Prosecutions (ODPP), Kiprono stands accused of systematically siphoning Ksh.52,404,084.95 from the bank over a nearly two-year period between December 13, 2022, and October 10, 2024.
The extensive charge sheet includes multiple counts of theft by servant, acquisition of proceeds of crime, possession and use of proceeds of crime, as well as forgery and uttering false documents. Prosecutors allege these offenses violate both the Penal Code and the Proceeds of Crime and Anti-Money Laundering Act of 2009.
In a dramatic court appearance, Kiprono entered not guilty pleas to all charges against him. The prosecution, citing the substantial amount of money involved, pressed the court to impose strict bond terms, arguing the case represented a significant breach of financial trust.
Magistrate Omwansa has taken the bond application under consideration, with a ruling scheduled for October 9, 2025. The case will proceed to a pre-trial conference on October 16, 2025, setting the stage for what promises to be a complex legal battle.
The case has sent ripples through Kenya’s banking sector, raising questions about internal controls and oversight mechanisms within financial institutions. The two-year duration of the alleged fraud suggests a carefully orchestrated scheme that went undetected for an extended period.
NCBA Bank has yet to make a public statement regarding the charges against its former operations manager or the substantial financial loss. Banking industry analysts note that cases of this magnitude involving senior bank staff are particularly concerning for customer confidence and regulatory compliance.
The coming court proceedings are expected to unveil the methods used to allegedly divert the funds and whether other individuals were involved in what prosecutors describe as one of the most significant internal bank fraud cases in recent memory.
