FRAUD DEAL

Indian investor loses Sh200 million in fake gold trick

What was supposed to be gold was discovered to be river bed pebbles.

In Summary

• The deal involved a fraudster from Guinea Bissau who has been identified as Cavalho Lopes.

• Once the complainant received confirmation from Lopes, that the shipment was on transit to Nairobi, he was contacted by a person purporting to be from KRA.

Upon inspection, what was supposed to be gold worth over Sh190 million was discovered to be river bed pebbles, neatly arranged in a box.
Upon inspection, what was supposed to be gold worth over Sh190 million was discovered to be river bed pebbles, neatly arranged in a box.
Image: DCI

The detectives from DCI have reported another fake gold scam, involving an investor based in India who is counting losses after being defrauded close to Sh200 million.

The deal involved a fraudster from Guinea Bissau who has been identified as Cavalho Lopes.

According to investigations by Serious Crimes detectives based at DCI headquarters, the gold was to be shipped from Guinea Bissau through Kigali, before being loaded on a plane to India via Jomo Kenyatta International Airport.

The fraudster had styled himself as a gold dealer obtained, obtaining $1,780,000 from Malian Sanjay, based in Mumbai, India on the pretext that he would sell him 44.45 Kgs worth of gold.

Once the complainant received confirmation from Lopes, that the shipment was on transit to Nairobi, he was contacted by a person purporting to be from Kenya Revenue Authority a few days after.

The caller identified as Hezbon Nyabola, informed him that his consignment, Airway Bill had been detained at JKIA for non-payment of customs duty.

The suspect has been placed in custody, pending arraignment in court, for obtaining money by false pretenses.
The suspect has been placed in custody, pending arraignment in court, for obtaining money by false pretenses.
Image: DCI

This prompted the investor to send a further $26,700 to clear the consignment and facilitate its shipment.

All along, the investor had not realised that he had been scammed until the gold failed to arrive in India within the agreed-upon time.

Sanjay became suspicious, hence, seeking assistance from the sleuths who moved in and recovered the consignment at JKIA.

Upon inspection, what was supposed to be gold worth over Sh190 million was discovered to be river bed pebbles, neatly arranged in a box.

The caller Nyabola has been placed in custody, pending arraignment in court, for obtaining money by false pretenses.