Detectives have arrested a suspect over an alleged Sh4.95 million investment fraud involving promises of returns from Forex and cryptocurrency trading.
The suspect, Harrison Njeru Muthika, was arrested by detectives from the Nairobi Regional Headquarters following investigations into a complaint filed by a man who claimed he was induced to invest his money in the two ventures.
According to investigators, the complainant transferred a total of Sh4,950,000 to the suspect through multiple transactions between April 30 and July 2, 2025, after allegedly being promised that the funds would be invested in Forex and cryptocurrency trading.
The investigations culminated in a review of the case file by the Office of the Director of Public Prosecutions (ODPP), leading to the issuance of a warrant of arrest by a court.
Muthika is currently in custody pending arraignment at the Milimani Law Courts.
He is expected to face charges relating to cheating, operating an unapproved collective investment scheme, fraudulently inducing trading in securities, and acquiring and using proceeds of crime.
Authorities have urged members of the public to exercise caution before investing in schemes promising lucrative returns, particularly in the Forex and cryptocurrency markets.
Investors have also been advised to conduct due diligence and verify the legitimacy and regulatory status of investment ventures before entrusting them with their money.
