Kenyan Man Arrested for Scamming Foreigner Out of $256,000 in Fake Gold Deal
A Kenyan man was apprehended for allegedly defrauding a foreigner of $256,000 (equivalent to Ksh33 million) in a fraudulent gold sale scheme.
The Directorate of Criminal Investigations (DCI) revealed that the suspect orchestrated two consecutive fake sales, failing to honor his commitments in both instances.
In the first fraudulent deal on February 6, the victim intended to purchase 500kg of gold, priced at $40,000 per kilogram. However, the deal collapsed after the suspect claimed the buyer had not fulfilled specific conditions.
A second agreement was signed on March 14 for the sale of 580kg of gold, with the condition that the buyer would cover expenses like jet chartering, taxes, and insurance.
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This time, the scammer provided the victim with 20kg of gold as collateral, secured in a safe box. Despite this, the suspect once again failed to deliver, leaving the buyer defrauded a second time.
The victim, unaware of the scam, made two payments totaling $265,000—$126,000 and $139,000—through local law firms. When the scammer demanded an additional $188,080, the victim decided to alert authorities.
Investigators quickly launched a probe, starting with the 20kg of gold the victim had received as collateral. Tests revealed the bars were fake, made from copper, zinc, and tin.
Further investigations uncovered that the scammer’s company was unregistered and lacked authorization from the Ministry of Mining to trade in gold or precious metals.
With sufficient evidence, law enforcement tracked down and arrested the suspect on Saturday, December 7. He now awaits formal arraignment.
Kenyan Man Arrested for Scamming Foreigner Out of $256,000 in Fake Gold Deal
