Kenyans Who Defrauded Pakistani Investor Ksh116 Million Freed
Three people appeared in court on Wednesday, facing serious charges for allegedly defrauding a Pakistani national out of Ksh116 million through a well-coordinated scheme.
The suspects were granted bail of Ksh5 million each at the Milimani Law Courts after pleading not guilty to the fraud charges.
The Directorate of Criminal Investigations (DCI) described how the three perpetrated a complex scam, luring the victim into Kenya with the promise of a lucrative business deal involving scrap metal and batteries.
The victim, enticed by the promise of high returns, made a large investment in the venture.
THREE FRAUDSTERS ARRAIGNED FOR SWINDLING A FOREIGNER OVER SH116 MILLION
— DCI KENYA (@DCI_Kenya) August 28, 2024
Abdul Razak Rehan, Mohammed Amin Suleiman, and Ebrahim Ahmed Ebrahim have been arraigned at the Milimani Law Courts for orchestrating a fraudulent scheme that duped a Pakistani national over Sh116 million.… pic.twitter.com/C1wfoyKcc5
One of the suspects, posing as a business consultant, persuaded the investor to register a company and demanded an initial payment of Ksh7 million.
This sum was given to two alleged con artists, who pretended to be an accountant at the registrar of companies and the Deputy President’s personal assistant, respectively.
What started out as a seemingly legitimate business transaction quickly turned into a nightmare for the investors.
He was subjected to a series of additional payments, purportedly for warehouse rent, customs duties, and special permits, all of which were made up by the fraudsters.
The total loss was a staggering Ksh116 million.
“To add insult to injury, the victim was duped into making several additional payments in the name of warehouse rent, scrap metal, and battery purchases, KRA customs duties, and special permits, all amounting to a staggering Ksh116 million,” stated DCI on a statement on X social media.
The DCI’s investigation, which included tracing financial transactions and scrutinizing the legitimacy of the issued documents, revealed the depth of the deception.
Every permit and document given to the victim were forgeries with no connection to any government authority.
The case was solved after the DCI conducted a painstaking manhunt, using geo-location tracking to pinpoint the suspects’ movements.
The three were eventually apprehended and taken into custody, which marked the end of the investigation.
The accused maintained their innocence in court, despite mounting evidence against them.
They were released on bond, with the case scheduled to resume on September 9, 2024.
The DCI has reiterated its commitment to seeking justice in such cases, urging anyone else who may have been defrauded by the trio to come forward.
This case serves as a stark reminder of the sophisticated methods used by fraudsters, who frequently target unsuspecting foreign investors in Kenya.
Kenyans Who Defrauded Pakistani Investor Ksh116 Million Freed
