Controller of Budget Dr Margaret Nyakang'o was on Tuesday charged with swindling Claudia Mutungi of Sh29 million, operating FEB Sacco Society Limited minus a valid licence, and forgery.

However, Dr Nyakang’o pleaded not guilty to the three counts and was released on a Sh2 million bond with a surety of a similar amount, with an alternative cash bail of Sh500,000.

Mombasa Chief Magistrate Alex Ithuku further issued summons to her 10 co-accused; Jackson Ngure Wanjau, Susan Kendi Kiambati, James Makena Wanyangi and John Muchira Kithaka.

Other co-accused persons are Jane Karuu Ndanyi, Muthoni Eliphas, Joan Chumo, Mercy Ndura Mukora, Gregory Mwangangi Mailu and Michael Kipkirui.

According to the charges sheet, Dr Nyakang'o allegedly:

• Swindled Claudia Mweni Mutungi of Sh29 million on diverse dates between November 1, 2019 and May 1, 2020 by pretending to operate a genuine investment, namely FEB Sacco Limited.

• Operated FEB Sacco Society Limited without a valid licence expected to be obtained from the SACCO Societies Regulatory Authority (SASRA).

• Forged Claudia Mweni Mutungi's signature on December 2, 2019 at FEB Sacco Society Limited within Mombasa.

Dr Margaret Nyangate Nyakang'o arrested while attending to official duties in Mombasa on Tuesday following a complaint filed against her and 10 other individuals in 2019 and 2020.