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Kenyan Who Fled to US After Conning Investors Millions of Shillings Faces Extradition

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Kenyan authorities are seeking to have a suspect who fled to the US after defrauding investors out of millions of shillings extradited to face charges in Nairobi.

29-year-old Joshua Muthee Kiura was allegedly posing as an online forex broker and promised investors huge returns on their investments, Daily Nation reports.

Those who invested above Sh1 million were assured of returns of up to 10 percent per month and eight percent on anything between Sh100,000 and Sh1 million.

Kenya’s Directorate of Criminal Investigations (DCI) is in the process of obtaining a warrant of arrest against Muthee before contacting US authorities to request his extradition.

DCI head George Kinoti said the process delayed after the Judiciary suspended some services such as the execution of warrants of arrest due to the Covid-19 pandemic. Court services were scaled down in April as part of the measures to contain the spread of the virus.

 “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,” said Kinoti.

Muthee allegedly told his sister that he was going to live with friends in Alabama, according to the DCI. His sister told investigators that the last time she spoke to him he said he was planning to relocate to Washington, DC.

Through the scheme, Muthee is said to have falsely obtained millions of shillings from unsuspecting investors before fleeing the country.

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To lure his victims into investing more money, Muthee would ensure they receive their returns on time in the first three months.

Some of his victims; Timothy Mugunde and Japheth Kaeke Musyoka, both businessmen lost over Sh10 million combined. Mugunde lost Sh2.3 while Musyoka was conned Sh9 million.

“I had resigned from my job to start a business. I handed to him all my benefits on the promise of good returns,” said Musyoka.

If extradited, Muthee will face charges of obtaining money by false pretenses and conducting online forex brokerage services without a license.

 





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