A cashier at a Nairobi forex bureau counts dollars and shilling notes. Picture used for ilustration, not related to the incident.....CLICK HERE TO READ THE FULL ARTICLE>>>
Police in Ruai are hunting for a woman suspected to have defrauded Kenyans over Sh300 million in a fraudulent money-lending scheme.
The money-lending scheme is said to have left several victims mainly from Nairobi, Machakos, Kiambu and Kajiado counties counting losses and in a serious debt crisis.
Many are said to have borrowed funds to invest in the money-lending scheme with the hope that they will get significant returns in the form of interest.
The suspected woman is said to have lured people into investing substantial sums of money with the promise of earning 30 per cent interest from loans issued to unspecified borrowers.
It is said that the scheme grew in leaps and bounds as a result of referrals by those who are said to have received their promised returns earlier.
But things went south after the money-lending scheme failed to give the “supposed investors” their returns and the principal amount as time went by.
Lynne Magai is one of the investors who pumped her cash into the scheme with the hope of getting massive returns.
She claims the business took off on the right footing but suddenly went south after the suspect cut off communication.
“We communicated regularly until she abruptly stopped responding a week before the police began searching for her,” Magai told a local TV.
Magai claims she invested Sh200,000 into the scheme.
She said they started experiencing delays in payouts and then followed promises that were not fulfilled.
According to the victims, attempts to contact the suspect via calls were unsuccessful.
Those who tried to access her residence were told by neighbours that she had been missing for over a week.
“I deposited Sh200,000 in multiple intervals and I ended up losing Sh5 million. My final deposit amounted to Sh610,000,” a victim who sought anonymity said in a media interview.
Another victim added that she invested Sh8 million and received only Sh94,000 as interest on her investment with the rest of the money still with the suspect.
The victims estimate that the suspect could have disappeared with Sh300m.
Ruai Police Commander Patricia Yegon confirmed that they have received complaints regarding the money-lending scheme.
She said they hunting for the suspect to shed light on the ongoing investigation.
“We received three cases linked to the money-lending scheme and the DCI has taken up the matter,” Yegon said…CONTINUE READING>>
