Nairobi, Oct. 27 -- Two employees of financial services sector firms, Equity Bank and Old Mutual, have been charged in separate cases involving alleged insider fraud, with one accused of duplicating banking system profiles in a suspected theft plot and the other of stealing Sh89.5 million from the insurer and laundering the money through three companies.

In the Equity Bank case, Ian Maina faced three charges over alleged manipulation of the lender's banking system known as Finacle. In the Old Mutual case, Bernard Ngugi was charged with stealing Sh89.5 million from the insurer and laundering the alleged proceeds.

Published by HT Digital Content Services with permission from Business Daily....