A person has been arrested in Nairobi for allegedly defrauding a Canadian investor of Ksh 37 million (USD 280,000) in a gold scam, in which the foreigner was tricked into sending money via a cryptocurrency transaction.
According to the Directorate of Criminal Investigations (DCI), the arrest followed a report on September 1, 2025, which prompted a detailed investigation.
“Detectives from the DCI Nairobi Regional Office have taken into custody a fraudster linked to a gold scam that defrauded a Canadian investor out of USD 280,000,” the detective said.
The detectives revealed that the suspect and another accomplice, who is still on the run, tricked the foreigner into believing that he was buying 550kg of gold from Congo.
"Together with an accomplice who remains at large, Ishmael orchestrated a sophisticated con, luring the unsuspecting investor with promises of 550kg of gold nuggets and bars purportedly sourced from the Democratic Republic of Congo," the detective added.
The DCI stated that the investor was convinced the deal was genuine and went ahead to send the money through USDT, a cryptocurrency.
However, after the money had been sent, the two business accomplices failed to deliver the promised gold.
According to the police, the suspect was tracked by the officers and apprehended along Dennis Pritt Road in Nairobi.
The suspect is currently in custody as police complete investigations ahead of his arraignment as search for his accomplice continues.
"Currently in custody, [suspect] is undergoing processing pending his arraignment. Meanwhile, detectives are hot on the trail of his accomplice, who is still at large," the detective added.
The arrest came days after detectives apprehended another suspect at Sultan Suites, Ngong View Estate, also linked to a fraudulent gold deal involving a Pakistani national.
The Pakistani had reported that he was scammed out of Ksh4.5 million(USD 34,800) after being presented with 500 grams of counterfeit gold.
According to DCI, the suspect received the payment in cash before the buyer realised he had been scammed.
