The Office of the Director of Public Prosecutions (ODPP) has charged a Nairobi businessman in connection with an alleged Ksh15.1 million investment fraud.
The businessman was arraigned before Makadara Law Courts Senior Resident Magistrate Stephany Bett, where he denied three charges of conspiracy to defraud, obtaining money by false pretences and possession of proceeds of crime.
According to the prosecution, the accused allegedly worked with other individuals to obtain Ksh15.1 million from a complainant after falsely representing that they were in a position to invest the money in a business venture.
The alleged offences are said to have occurred between May and October 2023 at Drive Inn in Nairobi's Starehe Sub-County.
In the second count, the businessman is accused of obtaining Ksh5.1 million from the complainant alongside others through the alleged representation that the funds would be invested in a business venture.
The third count alleges that he knowingly possessed the Ksh5.1 million despite being aware that the money constituted, or formed part of, proceeds of crime.
The case comes amid renewed efforts by Kenya's anti-graft agencies to step up investigations and prosecutions involving corruption, money laundering and other financial crimes, as the country continues to face increased international scrutiny over its anti-money laundering framework.
The renewed push followed a high-level strategic meeting between the Ethics and Anti-Corruption Commission (EACC) and the Office of the Director of Public Prosecutions (ODPP) at the Kenya School of Government on Tuesday, July 14.
During the meeting, the two agencies agreed to strengthen cooperation in the investigation and prosecution of corruption and money laundering cases, commonly referred to as “washing” dirty money, through closer coordination between investigators and prosecutors.
The charges facing the businessman stem from an alleged investment arrangement in which the complainant reportedly handed over the money after being assured that it would be invested in a business venture.
The prosecution did not object to his release on bond. The court subsequently granted him a Ksh10 million bond with a similar surety or an alternative cash bail of Ksh5 million.
He pleaded not guilty to all three charges and was released under the conditions set by the court.
