A man accused of orchestrating a Sh1.49 billion fraud at Equity Bank has been arrested upon arrival at Jomo Kenyatta International Airport (JKIA).
John Karima Wainaina, identified as one of the key figures behind the high-profile heist, was taken into custody by officers from the Banking Fraud Investigations Unit of the Directorate of Criminal Investigations (DCI) after returning from China, where he had reportedly fled following the incident in August 2024.
The heist, regarded as one of the most audacious in Kenya’s banking history, resulted in a substantial loss for Equity Bank, with the funds funneled into various proxy accounts.
Detectives describe the operation as an “inside job,” stating that the stolen funds were primarily designated for salary payments.
Wainaina’s arrest marks a significant development in the investigation, as authorities continue efforts to track down other suspects involved in the scheme.
