NAIROBI, Kenya- Detectives in Imenti North, Meru County, have arrested a key suspect linked to an elaborate fake gold investment syndicate that allegedly conned a retired civil servant out of more than Sh7.5 million.
According to the Directorate of Criminal Investigations, the victim, a 61-year-old former employee of the Teachers Service Commission, was lured into a fake gold investment deal with promises of huge financial returns.
Investigators say the complainant lost a total of KSh 7,595,309 between February and April 2026 through a series of bank transfers and M-Pesa transactions made to the fraudsters.
Following weeks of investigations and intelligence-led operations, detectives tracked down the prime suspect, identified as Dennis Kinoti, and arrested him at his hideout in the Gakurine area of Meru County.
Police said a search conducted at the suspect’s residence led to the recovery of several Safaricom SIM cards believed to have been used in executing the fraudulent transactions.
Detectives also seized a grey Volkswagen Passat suspected to have been purchased using proceeds from the alleged scam.
The vehicle was towed to Meru Police Station where it is being held as an exhibit pending further investigations.
Authorities said the suspect remains in police custody undergoing processing ahead of arraignment in court.
Meanwhile, detectives have intensified a manhunt for other suspects believed to be part of the syndicate and who remain at large.
The Directorate of Criminal Investigations has cautioned members of the public against falling victim to flashy gold investment schemes promising quick wealth.
According to investigators, fraudsters are increasingly targeting unsuspecting Kenyans using sophisticated scams disguised as lucrative gold trade opportunities.
The latest incident adds to a growing list of fake gold fraud cases reported in Kenya over the years, many involving victims losing millions of shillings to well-organised criminal networks posing as genuine dealers.
Authorities have urged Kenyans to conduct proper due diligence before engaging in any gold trade or investment deals, especially those involving advance payments and unrealistic profit promises.
