Controller of Budget Margaret Nyakang'o was arrested in Mombasa in the wee hours of Tuesday morning.
Nyakang'o was arrested in connection with a complaint made against her and 10 other persons in 2016. This was before she became the CoB.
The Office of the Director of Public Prosecutions approved the charges in a letter to the Directorate of Criminal Investigations (DCI) dated November 30.
She and 10 others are expected to face charges including conspiracy to defraud contrary to Section 317 of the Penal Code, operating a Sacco without a Licence Contrary to Section 24 as read with Section 66 of the Sacco Societies Act, 2008, forgery and uttering a false document c/s 353 of the Penal Code.
According to the ODPP, Nyakang'o is set to be arraigned at the Mombasa Law Courts for plea-taking.
She is currently being held at Port Police Station.
More to follow...