Nairobi — The Directorate of Criminal Investigations (DCI) has detailed how a Kenyan registered investment firm fleeced over 5,000 investors of their hard-earned cash in a well-choreographed scheme.
The DCI disclosed on Thursday that NMK Capital Investment Limited, masquerading as a legitimate investment entity, lured thousands of unsuspecting investors into a deceptive web, where they ultimately lost their hard-earned money.
The agency said the suspicious company believed to have been registered in the country in 2021 has seven directors, among them one Ngugi Mucheru Keeru (NMK) whom authorities identified as the sole Director and Signatory of a sister company; Bidsworth Autorents Capital Limited.
The DCI's Serious Crime Unit said that it had received numerous complaints from victims who ventured into the scheme, laying claims that nothing is left of their thousands and millions of investment after the directors fell out and the key suspect, Keeru went into hiding.
"In the streetwise machinations, over 5,000 investors were hoodwinked to enter into a 6 months contract with NMK with a minimum investment of Sh50,000," the DCI said while explaining the modus operandi of the scheme.
"This would accrue a redeemable monthly interest of 15 per cent, or a similar percentage of compounded interest redeemable at the end of the contract period (6 months)."
Additionally, the company ventured into car hire services, leasing vehicles from unsuspecting members of the public and then renting them out to individuals and agencies.
Car owners reportedly received only 30 per cent of the proceeds from the company.
The scheme also extended into off-plan property investments.
The agency says, investors are reporting to have lost millions of monies from the investment and payments made for off-plan houses, while some of those who leased out their vehicles have no track of them.
The DCI cautioned the public against engaging in any business with the two companies noting that its detectives are currently investigating them.
The agency advised Kenyans to exercise caution and due diligence before engaging in any such fraudulent ventures.
