The gold scam has taken many by surprise in the manner in which people are getting quick wealth at the expense of crossing paths with the law carrying heavy consequences but most of all the big connections involved in this dark deals.
Tycoon Jared Otieno has finally met with the law and has since been released on sh 300 million over fake gold transaction fraud charges.
Sixteen people among them businessman Jared Otieno were on Monday charged with obtaining Sh300 million from a Laos businessman, while pretending that they would sell him gold.
It is alleged that using fraudulent tricks and displaying heavy metal boxes packed with genuine gold bars and an office trading as Nirone Safe Keeping, the suspects pretended to be carrying out genuine gold business.
They were further accused of counterfeiting Ghana customs authority stickers’ trademarks.
The court heard that between February 8 and 25, 2019 Mr Chanthavong, who deals in buying and selling of gold, was allegedly lured to house No.12 at Kaputei Gardens in Nairobi’s Kileleshwa area and lost US$3 million, after being duped that the items he bought were genuine gold.
Three weeks ago, the police raided the house allegedly owned by Mr Otieno and arrested 15 people in connection with the fraud.
According to the police, they recovered mobile phones, 28 steel boxes, several sledge hammer heads, seven desktop computers and gold-coated iron bars. The hearing of the case will start on July 2.
Mr Otieno together with Mr Philip Nashon Aroko, Mr Robert Ouko Owiti, Mr Ochieng, Peter Omondi, Michael Ochieng, Paul Otieno, Alice Nzisa, Joyce AKinyi and Julie Kathambi, as well as Seinim Boukar, Abuona Temoua and Albert Lokunda Lokole and four others, denied a charge of conspiracy to defraud.