Meridian Acceptance ltd director, two others charged with Sh 176 million fraud

A director of Meridian Acceptance Limited has been charged alongside two of his relatives with  Sh 176 million fraud.

James Ndwiga Muchungu, Ian Nyaga Ndwiga and Lisa Mumbi Ndwiga are charged with conspiring to steal Sh176, 934, 104.20 the property of the said Meridian. The three are alleged to have committed the offence on diverse dates between 1st January 2017 and 31st December 2020 at Meridian Acceptance Limited in Nairobi Central Business, jointly with others not before court.

Individually, the trio is facing stealing charges whereby Muchungu, being the director, is accused of stealing Sh 23, 018, 621.5, Nyaga Sh 20, 836,817 and Mumbi Sh 10, 636,560.70.

They all denied the charges before Chief Magistrate Francis Andayi and were released on bail. The director was released on a bail of Sh 1 million while the other two a bail of Sh 500,000 each.