CMA Warns Kenyans Against Investing in Fxbitinvest

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The Capital Markets Authority has cautioned Kenyan investors and the public against a cryptocurrency trading platform Fxbitinvest.

According to CMA, the company has been luring the public to invest its funds in its products while promising a return of 400 per cent within six hours.

The authority further noted that Fxbitinvest has been collecting funds from unsuspecting investors through M-Pesa Paybill Numbers: 5578405 (Mpesa Paybill Name: CYPTO FX INVESTMENT) and 7546659 (Mpesa Paybill Name: FXBITINVEST).

Also, a bank account at Prime Bank under the number 3000068834 may be associated with the company.

The markets regulator has requested defrauded persons to file reports with the police or file a complaint directly with the watchdog through its complaints portal.

“We caution the public not to invest with the company or its directors and not to deposit funds into the Mpesa Paybill Numbers or Bank Account highlighted above. Any investor who has been defrauded because of investing with the company is encouraged to report to the nearest Police Station with a national identity card, bank deposit slip or Mpesa statement, any contract that was entered into and other documents to support the claim,” CMA Chief Executive Officer Wyckliffe Shamiah said in a statement.

“Alternatively, such investors can lodge a complaint directly on the Complaints Portal within the CMA website www.cma.or.ke or visit the Capital Markets Fraud Investigation Unit in Embankment Plaza, Longonot Road – Upperhill.”

CMA has identified Hassan Juma (Instagram username: Hassan_hfx) and Geoffrey Koome (Facebook username: Geoffrey Koome Bitcoin, Instagram account username: Riungu Geoffrey) as persons associated with the company.

The post CMA Warns Kenyans Against Investing in Fxbitinvest appeared first on LitKenya.

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