Two more suspects charged in Ksh.1.5B PROFIT fraud case

Two more suspects have been charged in connection with the alleged loss of Ksh.1.5 billion from the Programme for Rural Outreach of Financial Innovations and Technologies (PROFIT).

Paul Mukasiali Shilaho, a sole proprietor of Shilal Supplies and Kemula Agencies, and Billy Otieno Obango, a project accountant at PROFIT, appeared before the Anti-Corruption Court in Nairobi on Tuesday.

According to the Office of the Director of Public Prosecution (ODPP), Shilaho faces six counts of fraud, while Obango faces 45 counts. The two denied all the charges.

During the hearing, the prosecution did not oppose their release on bail or bond but instead asked the court to take into account the nature and seriousness of the alleged offences when determining the terms.

Principal Magistrate Rose Ndombi, in her ruling, granted Shilaho a bond of Ksh.5 million with a surety of a similar amount, or cash bail of Ksh.1.5 million.