A 20-year-old Mt Kenya University student, Collins Mutuma, is facing serious cybercrime allegations after being accused of hacking into Sidian Bank’s systems and stealing more than KSh7.8 million. The case, which has drawn national attention, was presented before Chief Magistrate Lucas Onyina at the Milimani Law Courts on Monday, October 27.
Prosecutors told the court that Mutuma, a Bachelor of Education (Science) student, worked with several unidentified accomplices to illegally transfer funds from customer accounts at Sidian Bank into his own Diamond Trust Bank (DTB) account. The prosecution stated that the crime occurred on January 11, 2025, at an undisclosed location in Kenya.
According to the charge sheet, “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.”
How Did the Alleged Sidian Bank Hack Happen?
Investigators reported that the stolen funds were later traced to Mutuma’s DTB account, where he allegedly attempted to hide their source by transferring portions to other individuals. Among the transactions flagged was KSh300,000 sent to Dominic Gichiri Kagwina and KSh169,000 transferred to an M-Pesa account under Samuel Mukola Matheka.
One of the affected victims, identified as Peninah Karoki, reportedly lost KSh471,302 from her Sidian Bank account. Prosecutors believe these transactions were part of a larger money-laundering network, still under investigation. They described the scheme as a “calculated cyber theft operation targeting both the bank’s internal systems and its customer accounts.”
How Did Mutuma Respond to the Allegations?
Mutuma faced three major charges: conspiracy to defraud under Section 317 of the Penal Code, theft under Section 268(1) as read with Section 275, and acquisition of proceeds of crime under Section 4(a) of the Proceeds of Crime and Anti-Money Laundering Act.
Appearing calm in court, Mutuma denied all charges, insisting he was being unfairly linked to a complex cyberattack. His defence entered a plea of not guilty, arguing that the allegations were based on circumstantial evidence.
Chief Magistrate Lucas Onyina released the student on a cash bail of KSh200,000 with one contact person and scheduled the pre-trial hearing for November 3, 2025.
As the investigation continues, the case has reignited public debate about the growing rise of cybercrime among young tech-savvy individuals and the urgent need for banks to strengthen digital security systems in Kenya’s financial sector.
By Lucky Anyanje