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Suspect in forex trade scam faces extradition from US

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A suspect who fled to the United States after de-frauding investors of millions of shillings could soon be brought back to stand trial.

Joshua Muthee Kiura, 29, is accused of perpetrating the fraud under the guise of an online forex broker. He had promised investors returns of up to 10 per cent per month on any investment above a million and eight per cent on anything between Sh100,000 and Sh1 million.

The Office of the Director of Public Prosecutions in April agreed with investigations by the Directorate of Criminal Investigations (DCI) and advised that the DCI obtain a warrant of arrest so that extradition proceedings can start.

DCI boss George Kinoti said the delay in getting the arrest warrant has been caused by the scaling down of court ac-tivities in line with regulations on containing the coronavirus. Execution of warrants of arrest was among the services suspended by the Judiciary at the beginning of April.

“The investigation file is ready. Once we obtain the warrant of arrest we shall also be contacting the US authorities as guided by the Mutual Legal Assistance Treaty to bring him back to face charges,” Mr Kinoti said.

The investigators have also obtained a statement from Mr Kiura’s sister, who told them that her brother said he was going to live with friends in Alabama, US.

The last time she spoke to him, she said, he was planning to relocate to Washington, DC.Mr Kiura had obtained tens of millions of shillings from unsuspecting Kenyans while claiming that he would invest in the online forex market to earn interest on behalf of the investors.

To entice more clients to buy into his scheme or existing clients to invest more, he would ensure that for at least the first three months, the interest was paid right on time and in full. Timothy Mugunde, a businessman in Siaya, lost Sh2.3 million to Mr Kiura, who has since gone silent on him. Japheth Kaeke Musyoka, also a businessman, lost Sh9 million to the suspect.

“I had resigned from my job to start a business. I handed to him (Mr Kiura) all my benefits on the promise of good returns,” Mr Musyoka said.Another investor, Elijah Gakuya, says he lost more than Sh500,000 to Mr Kiura. A number of complaints from the public led the DCI to investigate.

Information obtained by the Sunday Nation shows that as soon as the investors deposited cash into his bank account at Standard Chartered Bank, he would withdraw nearly all the amount in a series of Pesalink and M-Pesa transactions.

For instance, Mr Mugunde deposited Sh2.2 million on January 15, 2019. On the same day, Mr Kiura made an M-Pesa transfer to his phone of Sh10,000.

He then made three Pesalink transactions — two for Sh800,000 and one for Sh700,000.Other than being possibly charged with the offence of obtaining money by false pretences, Mr Kiura could also face the charge of conducting online forex brokerage services without a licence from the Capital Markets Authority (CMA).

CMA last week told the Sunday Nation that investors who trade through unlicensed entities and lose money have no recourse to them.

“If cases are brought to our attention and we establish there are crimes that may have been committed, we engage the criminal investigation and public prosecution agencies to follow-up such matters,” the authority sai

By Sunday Nation

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Amani Ridge the Place of Peace instals Gigantic solar-powered high light mast

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BY GEORGE WACHIURI

There was excitement on Sunday evening as the contractor launched the Gigantic solar-powered high light mast with 8 super bulbs. Nested next to the Fountain of Peace, this splendid security light is also just at the front of Amani Ridge the Place of Peace Solomonic gate.

This solar tower is also adjacent to the wall of Peace & the Wall of Wisdom.

The Enormous tower stands 10 meters high and this is a true symbol of peace.

If you want to join this unveiling reality

Call us now:
+254 713 588 899
Website: www.optiven.co.ke

 

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VIDEO: Victory Gardens, Kitengela- A beautiful fully developed project for your family

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Victory Gardens – Kitengela is a beautiful fully developed project for your family with all the value additions you need within, and all the amenities are close by as well for all your educational, social, economic, and financial needs!

Give your family the life they deserve today!
Call us today on 0723 400 500
or WhatsApp: https://wa.me/254723400500

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VIDEO: Waking up to Mua Hills Splendor – Rafiki Gardens

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Like a string instrument, life’s music will play depending on the way you tune it. However, many loose it based on excuses.

Some of these excuses include statements like I am broke, I cannot afford it, it’s very far, it’s expensive, let me think harder about it, what if this is just another of the many scams? Others will doubt almost everything around, including life itself!

The story is different at Rafiki Gardens, customers are fencing their plots ready to set up homes. This property is limited value added and one is free to set up what they have been dreaming of. In life, there is always a first step, and this is a good place to start off life. Watch more here:

Our topic today is "REFUSE TO GO DOWN"We are LIVE from RAFIKI GARDENS, a property worth ksh695K.Please participate in the show by sharing, commenting, tagging others and stand a chance to get FREE AIRTIME. Over 20 followers will win this airtime! See you then!

Posted by George Wachiuri on Friday, 10 July 2020

Optiven recently went a step further to murram the roads to ensure that our customers can access this property easily. We are happy that KERRA is upgrading the access road from the tarmac and several kilometers are now done.

Optiven has a limited offer of 695K and you have 6 month’s to pay. You only need to deposit 50%

Here is your chance to join Optiven family

Call us now on: 0790300300 or 0723400500

Website: www.optiven.co.ke

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