The Directorate of Criminal Investigations (DCI) has cautioned Kenyans against falling victim to fraudulent Forex and cryptocurrency investment schemes following the arrest of a suspect linked to an alleged Ksh4.95 million fraud.
In a statement on Tuesday, October 27, 2026, the authority urged Kenyans to exercise caution before investing their money in online trading ventures, particularly those promising high returns.
The warning followed the arrest of the suspect by detectives from the Nairobi Regional Headquarters over allegations that he defrauded a man who invested millions of shillings in Forex and cryptocurrency trading.
According to the DCI, the complainant transferred Ksh4.95 million to the suspect through several transactions between April 30 and July 2, 2025, after allegedly being promised that the money would be invested in the two trading ventures.
Investigations into the complaint led detectives to forward the case file to the Office of the Director of Public Prosecutions (ODPP) for review, after which a court issued a warrant for the suspect’s arrest.
The suspect is currently in police custody awaiting arraignment at the Milimani Law Courts, where he is expected to face several charges, including cheating and operating a collective investment scheme without regulatory approval.
He is also expected to face charges of fraudulently inducing trading in securities and the acquisition and use of proceeds of crime.
Additionally, the agency urged Kenyans to verify the legitimacy of investment companies and individuals offering Forex and cryptocurrency trading opportunities before committing their money.
