City lawyer linked to Sh1.5 billion bank heist released on Sh30 million bond
Lawyer Esther Bitutu was directed that she report to the police station for interrogation as investigations into the high-profile financial fraud continue.
A Nairobi lawyer suspected to be behind the Sh1.5 billion Equity Bank heist has been released on a Sh30 million bond by a Nairobi court.
Lawyer Esther Kadiki Bitutu was released by Milimani Chief Magistrate Lucas Onyina on bond and directed that she report to the police station for interrogation as investigations into the high-profile financial fraud continue.
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On Tuesday, police had sought 21 days to detain the lawyer as police continue with investigations.
In an affidavit filed by Chief Inspector Chrispinus Sore, the court was told how lawyer Bitutu allegedly assisted prime suspects in the heist, including a senior Equity Bank manager, to steal billions of shillings intended for staff salaries.
The DCI officer attached to Banking Fraud Unit indicated that, "Equity Bank reported that, between May 1, 2024, and July 31, 2024, numerous fraudulent debits amounting to Sh1,499,465,831.29 were made from its internal Salaries Remittance General Ledger account."
These funds were credited to various non-Equity Bank accounts, with fictitious narrations used to disguise the origin, nature, and movement of the stolen money.
Transfer to multiple accounts
The court held that the funds, intended for salaries, were transferred to multiple external accounts in 47 transactions, none of which reflected on Equity's ledger.
Internal controls were alerted before Equity Bank reported the breach after discovering the transfers were authorised using the login credentials of a manager, who was on leave during the incident.
"The lawyer has been a member of a well-organised syndicate that recruits and targets bank staff in a bid to steal funds from lenders in the country," the court was told.
He added that he had information that Lawyer Bitutu is a member of a larger organised group that is well-structured, with each assigned specific roles ranging from the recruitment of targeted bank staff, penetration of the bank system, to identifying and recruiting proxy persons and companies to launder proceeds of crime.
"I have intelligence-gathered information which identifies Bitutu as an integral player in the planning and execution of the fraudulent activities, which benefited her directly and through proxies. She acted as a recruiter of companies and persons whose accounts were used to launder the stolen funds," Sore added.
The court heard that Bitutu was involved in drafting fictitious business transaction agreements between companies engaged in non-existent activities.
These documents were used to justify large cash withdrawals from the benefiting accounts.
"I have established that despite the respondent's involvement in drafting the fictitious agreements, she has been unwilling to provide information regarding the real individuals behind these deals, claiming she never met them," the officer told the court.
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