This archive report was first published on 2 October 2019.
Published on October 2, 2019, the Capital Markets Authority (CMA) and Central Bank of Kenya (CBK) regulations were allegedly breached by Interweb Global Fortunes CEO, Manasseh Kuria Karanja.
According to court documents, Mr. Kuria operated the unlicensed online forex broker between January 1, 2018, and August 31, 2019.
The Milimani Court heard that the business model of Internet Global Fortunes featured characteristics similar to a Ponzi/pyramid scheme, with the company unlawfully collecting funds from investors.
The CMA had previously warned the public against dealing with Internet Global Fortunes on September 26, 2019.
