Two suspects have been charged at the Milimani Law Courts over allegations of operating an unlicensed investment scheme that had been flagged by the Capital Markets Authority (CMA).
According to a statement by the CMA, the two suspects appeared in court on Wednesday, September 23, 2026, after their arrest a day earlier.
The development follows a joint operation involving the authority, the Directorate of Criminal Investigations (DCI) and the Office of the Director of Public Prosecutions (ODPP).
“The Authority, in conjunction with the DCI and the ODPP, today presented two suspects before the Milimani Law Courts for plea taking. The two are charged with operating fraudulent investment schemes,” CMA stated
The two women were accused of operating a collective investment scheme without the required CMA licence between January 1 and September 17 of this year.
Additionally , it was alleged that they fraudulently encouraged members of the public to subscribe to and trade in securities through misleading statements and promises.
However, the two denied the charges and were each released on a Ksh200,000 bond.
The regulator has now urged members of the public to verify the licensing status of investment providers before committing their money and provides an online portal for checking approved market intermediaries.
