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Nairobi Businessman Loses $150,000 in Fake Currency Exchange Scam

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Nyakundi Report

Newsroom 1 min read

This archive report was first published on 24 September 2019.

On September 21, 2019, a Nairobi-based businessman was targeted in a brazen robbery that left him $150,000 poorer.

The businessman, who operates a forex bureau in Nairobi's Eastleigh area, was approached by a well-known broker who claimed to have a client seeking to exchange old Sh1,000 Kenyan notes before the September 30th deadline.

The broker, who was familiar to the businessman, claimed that a politician wanted Sh15 million in old Sh1,000 bills exchanged for American dollars at a good rate.

Without hesitation, the businessman handed over $150,000 in crisp dollar notes and accompanied the broker to Upper Hill, where they were supposed to meet the politician.

However, the broker betrayed the businessman, making off with the $150,000.

Nairobi Police Commander Philip Ndolo confirmed that detectives are investigating the incident, which was reported at Capitol Hill Police Station.

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