Arrest made in counterfeit gold transaction valued at Sh36.1 million
In Kenya, the Directorate of Criminal Investigations (DCI) has been tackling persistent gold price manipulation targeting foreigners. Over the past year, the DCI has handled numerous cases with complaints totaling a staggering $13,123,000, and since January, an additional $2,539,500 worth of complaints have been reported.
The latest arrest was made following a complaint by a Canadian national who was promised 550 kilogrammes of gold nuggets and bars sourced from the Democratic Republic of Congo. The culprit, Abbas Bardu Omuyoma, also known as Ishmael, was apprehended at Dennis Pritt Road after investigations launched by the DCI following the formal complaint in September.
However, the scammers have not been deterred by the enhanced surveillance in Kenya. They have established international links in various countries, including Dubai, Turkey, Ireland, the US, Canada, South Africa, Liberia, Ghana, Uganda, Tanzania, the Philippines, Malaysia, Togo, and many more.
This international network has been a significant challenge for the DCI, as the search results do not provide specific information about the international connections of gold price manipulators active in Kenya. The manipulators have also migrated to other countries, making it difficult for the DCI to fully curb their activities.
The manipulation involves several players, according to DCI Director Mohamed Amin, and some victims, despite being conned millions, side with the criminals while others refuse to co-operate and testify in court. This has raised concerns that victims of the gold price manipulation conspire with fraudsters to defeat justice.
Despite these challenges, the DCI has been able to downgrade the activities of the gold price manipulators locally. The DCI Director expressed his satisfaction with the progress made, stating that the enhanced surveillance has been effective in reducing the impact of these manipulations.
In 2023, the DCI handled similar cases with complaints totaling $21,695,000, a significant increase from the previous year. This underscores the urgency for continued efforts to combat these manipulations and protect foreign investors in Kenya.
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