Detectives have arrested an Indian national suspected of defrauding an investor of approximately KSh 172.3 million in a gold investment scam involving a promised consignment of 210 kilograms of gold.
The suspect, identified as Maheshbhai Rameshbhai Bhadra, was arrested at Jomo Kenyatta International Airport (JKIA) shortly after arriving from Dubai, United Arab Emirates.
According to the Directorate of Criminal Investigations (DCI), detectives from the Nairobi Regional Criminal Investigations Office apprehended the suspect following investigations into a complaint filed by an investor who alleged he had lost USD 1,325,970 (approximately KSh 172.3 million).
Investigators said the complainant was allegedly induced to release the money through an informal Hawala money-transfer arrangement involving agents operating in Dubai and Kenya.
The transaction reportedly revolved around a promise to supply 210 kilograms of gold. However, the anticipated deal failed to materialise despite the investor having transferred the money.
The suspect’s arrest was executed following a stop order issued by the Milimani Law Courts, allowing detectives to proceed with the investigation and subsequent legal processes.
Bhadra is being held in police custody as detectives complete the necessary procedures ahead of his expected arraignment in court.
The DCI reiterated its commitment to investigating financial fraud, tracing suspicious transactions and pursuing individuals suspected of defrauding investors.
The suspect will have an opportunity to respond to the allegations through the court process.
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