Detectives Arrest Two in Sh860 Million Gold Scam Targeting American Businesswoman.
Detectives have arrested two suspects linked to a multi-million-dollar fake gold syndicate that targeted an American businesswoman in a deal worth $5.6 million (approximately Sh860 million).
According to police reports, the suspects had lured the foreign investor into a fraudulent transaction involving 70 kilograms of purported gold bars. The businesswoman, who had traveled to Kenya to finalize the deal, grew suspicious after the suspects failed to provide verification documents from the Ministry of Mining — a standard procedure in legitimate gold exports.
Sources familiar with the investigation said the suspects attempted to push the investor into completing the transaction without following due process. However, when pressed to authenticate the gold through the ministry, they abruptly fled during a scheduled meeting in Nairobi.
Detectives from the Directorate of Criminal Investigations (DCI) launched a swift manhunt, tracking the suspects to their vehicle, which was intercepted shortly afterward. Upon searching the car and a hideout linked to the suspects, police recovered smelting machines, moulds used to shape fake gold bars, and other equipment used in the fraudulent trade.
The two suspects are currently being held in police custody as investigations continue. They are expected to be arraigned in court once the probe is completed.
Police have since urged foreign investors to be vigilant when engaging in mineral trade deals in Kenya and to always verify transactions through the Ministry of Mining and other relevant government agencies.
Authorities say the arrests mark another significant step in the ongoing crackdown on gold fraud schemes that have recently tarnished Kenya’s reputation as a legitimate gold trade hub.
