The Lower Eastern Times Opening The Third Eye
The High Court has temporarily halted the prosecution of Co-operative Bank of Kenya and its Chief Executive Officer, Dr. Gideon Muriuki, in connection with an alleged Sh363.3 million fraud case involving First Assurance Investment Company.
Justice Gregory Mutai issued interim conservatory orders barring the Director of Public Prosecutions (DPP) and the Directorate of Criminal Investigations (DCI) from arresting, charging, taking plea, or prosecuting Co-op Bank and Muriuki in relation to the matter.
Click here to join our WhatsApp Channel
The orders also suspend proceedings in Milimani Chief Magistrate’s Court Criminal Case No. E451 of 2026, Republic v Salim Mohammed Busaidy & six others, along with any other criminal proceedings stemming from investigations into the bank and its CEO.
The court issued the orders following a petition and accompanying applications filed by Co-op Bank and Muriuki dated August 6. Respondents and interested parties have been granted 14 days from the date of service to respond, with the matter set to be mentioned on October 12, 2026, to confirm compliance and give further directions.
The case stems from investigations into the alleged theft of Sh363.3 million from First Assurance Investment Company, reportedly implicating the company’s directors.
