Two suspected masterminds behind a multi-million-shilling gold scam targeting foreign investors have been arrested in Nairobi, bringing to an end a manhunt that lasted nearly a year.
The duo was apprehended on August 13, 2025, during a targeted police operation in the city. Their arrest followed months of evading capture, despite earlier crackdowns that netted dozens of their alleged accomplices.
The case dates back to September 2024, when two investors from Dubai reported being defrauded in a fake gold transaction. The investors were promised the purchase of 35 kilograms of gold and convinced to travel to Kenya to finalise the deal.
Upon arrival at Jomo Kenyatta International Airport, the visitors were whisked away to a high-end hotel in Kilimani. There, an elaborate operation unfolded, involving individuals who allegedly posed as customs officers, Ministry of Mining officials, and even licensed private jet operators. The scammers went to great lengths to create an appearance of legitimacy, including staged meetings and official-looking documentation.
After several days of negotiations, the investors unknowingly fell victim to the scheme, losing USD 54,300 before realising the deal was fraudulent.
Following the complaint, detectives launched a series of coordinated raids on November 5, 2024, targeting locations in Runda, Ridgeways, and the Industrial Area. These operations led to the arrest of 31 suspects, all of whom were later charged in court. However, the two alleged ringleaders remained at large, managing to slip through multiple police dragnets until this week’s breakthrough arrest.
The suspects were presented before the Milimani Law Courts on August 14, 2025, where they denied the charges. The case is scheduled for mention on August 18, 2025, when the court will determine their bond terms.
Investigations are still ongoing to determine the full scope of the scam and whether other individuals or networks were involved. Authorities are also seeking to trace any proceeds from the fraudulent deal and recover stolen funds.
The arrests mark a significant step in ongoing efforts to dismantle sophisticated gold fraud syndicates that have tarnished Kenya’s reputation in the global precious metals trade. Such scams have been on the rise, often targeting foreign investors unfamiliar with the country’s gold export regulations.
Officials have urged investors to verify the authenticity of gold transactions through authorised government agencies to avoid falling prey to similar schemes.
