Tycoon Jared Otieno to spend more days behind bars over fake gold

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Tycoon Jared Otieno is poised to spend more days behind bars over fake gold nabbed which is worth 300 Million.

Otieno, who appeared before Magistrate Francis Andayi on Tuesday, pleaded not guilty to charges of conspiracy to defraud, obtaining money by false pretences and preparing to commit a felony.

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He was charged alongside 15 other suspects who also pleaded not guilty. The magistrate set their cash bail ruling for Monday, May 27, 2019.

Tycoon Jared Otieno was arrested on 17Th May and has spent all this time behind bars as team of investigators get to the root of the criminal activities under him.

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This despite Otieno being linked to the seizure of fake gold that was seized on Monday in Kileleshwa.

Detectives probing the matter said he was identified on CCTV footage that was confiscated from the scene.

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Two of his high end cars were also seized in the operation.

Otieno has been in and out of court over fraud cases alleged to involve hundreds of millions of shillings.

Previously, a Venezuelan man accused him of defrauding him of Ksh.300 million in a fake land deal.

This comes as another fake gold scam which Bungoma Senator Moses Wetangula is named as a key choreographer is getting thicker with UAE Sheikh pressing for his Gold or consequences be faced.

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