Man Arrested for Allegedly Defrauding Retired Teacher Sh7.5 Million in Fake Gold Deal

Detectives in Imenti North, Meru County, have arrested a key suspect linked to a gold investment fraud syndicate that allegedly defrauded a 61-year-old retired civil servant of more than Sh7.5 million.

In a statement issued on Saturday, May 23, 2026, the Directorate of Criminal Investigations (DCI) said the victim, a retired employee of the Teachers Service Commission (TSC), was lured into a sophisticated fake gold investment scheme with promises of huge financial returns.

According to investigators, the complainant lost a total of Sh7,595,309 between February and April 2026 through a series of bank transfers and M-Pesa transactions.

Following what the agency described as painstaking investigations and intelligence-led operations, detectives tracked down and arrested the prime suspect, identified as Dennis Kinoti, at his hideout in the Gakurine area of Meru County.

A search conducted at the suspect’s residence led to the recovery of several Safaricom SIM cards believed to have been used in executing the fraudulent transactions.

Detectives also seized a grey Volkswagen Passat suspected to have been acquired using proceeds of crime. The vehicle was towed to Meru Police Station, where it is being held as an exhibit as investigations continue.

“The suspect remains in custody undergoing processing pending arraignment, as detectives intensify a manhunt for his accomplices who remain at large,” the DCI said.

The agency further warned members of the public against falling victim to flashy investment deals involving gold trading and other schemes promising quick riches.

According to the DCI, fraudsters are increasingly targeting unsuspecting Kenyans using sophisticated scams disguised as lucrative business opportunities, urging the public to exercise caution and conduct due diligence before committing funds to investment offers.