This archive report was first published on 21 June 2020.
Published on June 21, 2020, authorities in Kenya are seeking the extradition of Joshua Muthee Kiura, a 29-year-old man who fled to the US after allegedly defrauding investors of millions of shillings.
Kiura posed as an online forex broker, promising investors huge returns on their investments. Those who invested above Sh1 million were assured of returns of up to 10 percent per month, while those who invested between Sh100,000 and Sh1 million were promised eight percent returns.
According to the Directorate of Criminal Investigations (DCI), Kiura's scheme involved falsely obtaining millions of shillings from unsuspecting investors before fleeing the country. To lure his victims into investing more money, Kiura would ensure they received their returns on time in the first three months.
Two of his victims, businessmen Timothy Mugunde and Japheth Kaeke Musyoka, lost over Sh10 million combined. Mugunde lost Sh2.3 million, while Musyoka was conned out of 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,” Musyoka said.
DCI head George Kinoti said the process of obtaining a warrant of arrest against Kiura has been delayed due to the Covid-19 pandemic. However, the investigation file is ready, and once the warrant is obtained, the DCI will contact the US authorities to request Kiura's extradition.
