The second-term lawmaker told the court that hackers digitally accessed his information before opening new bank accounts electronically and then took out loans without his knowledge.
The MP said it was a pity that "our educated youth are turning to crime because they cannot get jobs".
Matungulu MP Stephen Mule has expressed shock and fear in court as he narrated how cybercrime hackers are milking dry M-Pesa and bank accounts of unsuspecting citizens.
"Nobody is safe in this country including investors and multinational companies as hackers with immense skills in manipulating people's bank accounts are on the loose and withdrawing huge sums of money from the accounts without their knowledge," Mule told Milimani magistrate Gilbert Shikwe on Wednesday.