NAIROBI, Kenya, Jul 22 – A foreign investor on Tuesday told a Nairobi court that he lost more than USD 550,000 (about Sh80 million) in an alleged fake gold scam after receiving 10 kilograms of counterfeit gold and paying for a shipment that never left Kenya.

📻 Breaking It Down

Testifying in the case against Duncan Okaka Okonji, the investor said he entered into a business arrangement with the accused and three other individuals who promised to export a consignment of gold to Dubai aboard a private aircraft.

The witness told the court he was assured the chartered aircraft had already been paid for and was ready to transport the consignment. However, the promised flight never departed.

He testified that he was later informed another private jet had been secured but was asked to pay an additional USD 40,000 to facilitate the shipment.

📌 What You Need to Know

Believing the transaction was genuine, the investor said he transferred the money despite receiving neither a receipt nor any official payment documentation, relying solely on bank transfer records.

The complainant told the court he expected the gold to be shipped to Oman in March and was informed on the morning of March 17 that the consignment had already departed Kenya.

However, the shipment never reached its intended destination.

Instead, he said he received photographs purportedly showing sealed boxes, cash transfers and the alleged consignment, but no customs clearance certificates or export documents were ever produced to prove the gold had left the country.

The investor further testified that he had earlier received 10 kilograms of what was presented as gold, only to later establish that the bars were counterfeit.

“The bars were not gold. If I had known they were fake, I would never have sent any money,” he said.

📰 Source: Capital FM Kenya