Nairobi detectives reported the arrest of three individuals believed to be behind a massive fake gold scam that defrauded two foreign nationals of over Ksh 340 million (approximately €2.17 million).
The suspects, including a Tanzanian agent, allegedly lured the victims into a fraudulent gold deal that began in June 2022.
The scheme unfolded when Marco Colombo Conti arrived in Kenya with plans to purchase 100kg of gold from seller Allain Mwadia Nvita.
After paying approximately $400,000 in various fees through a local law firm, he was given just 12kg of gold.
However, upon preparing to leave, the seller informed him he could not take the gold, claiming it was part of a larger consignment. He was convinced to store the gold at Mysafe Vaults in Nairobi.
In February 2024, Conti returned to Kenya with Satbinder Singh, who intended to finalize the gold purchase.
They were introduced to additional conspirators, including the alleged customs official, Daniel Ogot, who falsely convinced them to pay more than €548,000 in freight and handling charges into an escrow account.
On February 9, the victims collected 31kg of gold, only to be later informed by Ogot that their shipment had been confiscated by customs, demanding an additional €1.4 million fee for its release.
Suspecting fraud, the victims contacted the Kenya Revenue Authority, prompting an investigation by the Directorate of Criminal Investigations (DCI).
The DCI discovered a web of forgery, fake documents, and illegal operations involving the suspects. The trio has since been charged, and inquiries into the conduct of the involved legal representatives are underway. Authorities urge potential investors to exercise caution in gold transactions to avoid similar scams.
