Detectives have arrested an Indian national in connection with an alleged gold investment fraud involving USD 1.32 million (approximately KSh172.3 million).
The suspect Maheshbhai Rameshbhai Bhadra was arrested at Jomo Kenyatta International Airport (JKIA) shortly after returning from Dubai, United Arab Emirates.
According to the Director of Criminal Investigations (DCI), the suspect was arrested by detectives from the Nairobi Regional Criminal Investigation Office following investigations into a complaint lodged by an investor who claimed to have lost the money to a fake gold investment deal.
The investigators found that the complainant was conned into parting with the money by an illegal Hawala money transfer under the control of agents based in Dubai and Kenya.
The transaction was said to involve a pledge to deliver 210kgs of gold. But the investor lodged a report with the police over the failure of the gold deal after he was paid the said amount.
The arrest was carried out pursuant to a stop order issued by the Milimani Law Courts based on an order to arrest, with instructions given to the detectives to seize the person when he appears in the country.
The suspect has been held by the police and is being processed for court where he is to be arraigned on the next sitting.
The DCI had reaffirmed its desire to investigate financial crimes, track down dubious transactions and arrest those suspected of fleecing investors.
The agency has also appealed to investors to be a little careful in their transactions that involve huge investment.