5,000 Kenyans Suffer Repeat Heartbreak as Millions Vanish to Swindler
The Directorate of Criminal Investigations (DCI) has issued a warning regarding a pyramid scheme that has defrauded thousands of unwitting Kenyans.
The investigators noted in a statement released on Wednesday that they had received numerous complaints from investors who have lost millions of Shillings to NMK Capital Investment Limited.
The DCI believes that NMK Capital Investment Limited was registered in the country in 2021 and has seven directors, including a Kenyan.
“Lately, DCI’s Serious Crime Unit has 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 holed up,” the statement read in part.
The officers noted that the main pyramid scheme has been collaborating closely with another sister company, Bidsworth Autorents Capital Limited, both of which are located in the Central Business District (CBD) of Nairobi, Kenya.
According to DCI, over 5,000 investors were duped into signing a six-month contract with the scheme, in which each contributed Ksh50,000.
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“This would accrue a redeemable monthly interest of 15 percent or a similar percentage of compounded interest redeemable at the end of the contract period (6 months),” the DCI stated.
Investigators discovered that the company offered car rental services by leasing vehicles from unsuspecting members of the public and then renting them out to individuals and organizations.
“Car owners allegedly received 30 percent of the proceeds from the company. Other ventures included off-plan properties,” DCI stated in their statement.
Eventually, investors report losing millions of dollars from the investment and payments made for off-plan homes, while some lessees have lost track of their leased vehicles.
The DCI has warned the public that two companies are the subject of active investigations and have become a significant financial risk to the public.
“We call on Kenyans to exercise caution and due diligence before engaging in any such ventures whose proprietors’ sheer greed for riches is founded on fraudulence,” the DCI cautioned.
5,000 Kenyans Suffer Repeat Heartbreak as Millions Vanish to Swindler