Nairobi: Man Accused of Stealing KSh 49 Million from JamboPay Portal Remanded for 7 Days
A 26-year-old man has been accused of masterminding a cyber heist that stole KSh 49 million from the JamboPay Client Portal. Joseph Momanyi was arrested on the night of Saturday, April 12, at his residence in Kahawa West. Police recovered multiple SIM cards, mobile phones, and a laptop believed to have been used in the heist.
The Heist Uncovered
Investigators say Momanyi accessed the JamboPay portal using legitimate customer profiles linked to KoraPay, Fincra, and the JamboPay Transaction Merchant Account. He allegedly tampered with the clients’ details by changing or disabling phone numbers that received One-Time-Only (OTO) transaction notifications. With these alerts disabled, Momanyi quietly transferred KSh 49,095,968 to various M-Pesa wallets, M-Pesa Till numbers, and several bank accounts.
How the Fraud Happened
Police discovered that Momanyi used mobile numbers registered under different people’s names. He also relied on WhatsApp calls to avoid detection. The fraudulent transactions were noticed when Web Tribe Limited, the company behind JamboPay, observed unusual activity in the system. Authorities believe Momanyi did not act alone but was part of a larger network.
During questioning, Momanyi cooperated with the police. He revealed that he had recruited others to help him carry out the illegal activities. Momanyi has agreed to assist authorities in locating his accomplices.
The Legal Proceedings
Milimani Magistrate Ben Mark allowed detectives to hold Momanyi for seven more days at Muthaiga Police Station. This will give them time to complete their investigations and gather more evidence. The court is keen on understanding the full scope of the cybercrime operation.
Related Case: KSh 254 Million Theft
In a separate but related story, a Nairobi businessman, Cheekati Narasimha, has been charged with stealing KSh 254 million from his employer. Narasimha allegedly forged his boss’s signature to promote himself fraudulently. The theft occurred between 2010 and 2024 while he was employed at Printing Services Limited. The court has set a bond of KSh 10 million with a matching surety or a cash bail of KSh 3 million.
Public Reactions and Concerns
This series of cybercrimes has raised concerns about the security of online payment systems in Kenya. Authorities are now calling for more stringent measures to prevent such crimes. Investigators are working tirelessly to track down Momanyi’s accomplices and dismantle the wider fraud network.
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Nairobi: Man Accused of Stealing KSh 49 Million from JamboPay Portal Remanded for 7 Days
