A man accused of stealing Sh13.5 million from Ainabkoi Farmers Savings and Credit Cooperatives Society (Sacco) has been released on a Sh1.5 million bond by a court in Eldoret town.The suspect identified as Elijah Kotut was arrested on January 19 this year and arraigned before Eldoret Chief Magistrate Charles Obulutsa.He pleaded not guilty but was remanded after an audit conducted at the Sacco revealed that a significant amount of money had been lost.In his direction, the Magistrate said he was aware of the amount alleged to have been lost but had to release the accused on ‘favourable bond’ to allow him get a lawyer that will represent him."The court has considered the request of the accused person but reiterates the bond terms are very favourable, the complainants say they have lost Sh13.5 million which is a huge amount and we need a commitment for the accused to appear in court," said Obulutsa.The suspect pleaded with the court to further reduce the bond saying he couldn't afford it but the court declined the request.According to court documents, Kotut is accused of swindling the money during his tenure as the Sacco's manager between October 26, 2013 and September 27, 2016.The prosecution has lined up four witnesses in the case that had been scheduled for hearing on February 20.

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