Missing Billionaire Arrested Over Fraud Accusations

  • Goldenscape CEO Peter Wangai stands next to some of the produce from his greenhouses.
    Goldenscape CEO Peter Wangai stands next to some of the produce from his greenhouses.
    Twitter
  • The Directorate of Criminal Investigations (DCI) has arrested Peter Wangai Muriithi, Founder, Chairman and CEO of Goldenscape Group Limited, who had gone into hiding since being exposed on Citizen TV on March 6.

    In a statement released on their social media platforms on Thursday, March 26, the sleuths announced that Wangai had been arrested following accusations of defrauding people of billions through his investment company.

    "Wangai, through his company, lured investors to invest in greenhouses that were to be set up in Ol Kalou, Nyahururu and other places which turned out to be a fraudulent investment deal," the statement read in part.

    Greenhouses belonging to Goldenscapes Limited.
    Greenhouses belonging to Goldenscapes Limited.
    Twitter
    DCI Kenya

    He will be charged with more than five charges which have been levelled against him by his victims who have written statements at the DCI headquarters.

    "He will be charged with the offence of obtaining money by false pretences, conspiracy to defraud, false representation, issuing bad cheques among other charges," the statement concludes.

    The DCI has been hot on the heels of the CEO after he went missing on March 6, 2020, when he got wind of the investigations launched against him.

    His departure is also reported to have been prompted by disgruntled investors coming forward to lament that the returns promised on their investments had still not come to fruition.

    Goldenscape was sold as a get rich quick scheme to investors looking for a viable avenue to invest their money.

    The scheme promised long-term returns from small investments. Investors were promised annual returns of Ksh 550,000 for an investment of Ksh 320,000 that would be paid bi-annually. 

    It, however, became clear that the proponents were not out for commercial farming but were looking for a way to package the concept to net investors with parcels of land that would never find buyers otherwise.

    Inside the green houses at Goldenscapes limited.
    Inside the greenhouses at Goldenscapes limited.
    Twitter
    DCI Kenya