A Wake-Up Call for the Youth
Two men from Nairobi have been charged before the Milimani Law Courts for allegedly swindling a businesswoman out of Ksh. 15.36 million in a fraudulent cryptocurrency investment scheme. Jackson Apollo Ananda and Alvin Oduya Atieno are accused of conning Tuyishime Grace by posing as legitimate traders on Binance, a popular global crypto exchange.
How Did the Alleged Cryptocurrency Fraud Happen?
According to court documents, the incident occurred on April 30, 2025, at the Serena Hotel in Nairobi. The prosecution stated that the two men obtained $ 116,000 (equivalent to Ksh. 15,360,000) from the complainant after falsely claiming they could help her invest and trade in cryptocurrency through Binance. Investigators allege that the duo, acting jointly with other individuals not yet arrested, made these claims knowing them to be false.
The suspects face two charges: obtaining money by false pretences and conspiracy to defraud, both under the Penal Code. The prosecution emphasized that the fraudulent scheme was carefully planned, targeting unsuspecting investors drawn by the promise of high crypto returns.
What Happened in Court?
Appearing before Magistrate Caroline Mugo, the accused pleaded for leniency, arguing that they were not flight risks and would comply with any bail conditions set by the court. Their lawyer requested the court to consider their cooperation and willingness to adhere to all legal procedures.
The magistrate directed that a pre-bail report be prepared before deciding on their release terms. The case is set for mention on October 9, 2025, when the court will issue a bail ruling.
This latest case highlights the growing trend of cryptocurrency-related fraud in Kenya, where scammers continue to exploit public interest in digital investments. Authorities have urged citizens to verify the legitimacy of trading platforms and agents before investing their money online.
By Lucky Anyanje