Family Bank fights to avoid losses after ex-employee earns 21 year fraud sentence

Family Bank has found itself deeply immersed in a fraud case perpetrated by one of its former senior employees. [Courtesy]

Family Bank is fighting to cushion itself from loss of funds arising from a fraud case perpetrated by one of its former senior employees.

This is after the Magistrates Court found the lender’s ex-credit manager Mary Wamaitha (pictured) guilty of falsifying a title deed belonging to a bank client named Joel Mwaniki in 2014, which she used to borrow a Sh1.8 million loan from her employer. The High Court has now sentenced her to 21 years imprisonment unless she pays a Sh1.06 million fine.