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How online forex scam in Kenya conned investors over Sh. 1 billion
Forex scam in Kenya: Mr Robert Siahi had big dreams in He wanted to pursue a degree course in a local university. Already an established trader in Limuru, Mr Siahi worried about financing his dream. During a meeting with one of his friends, he was encouraged to put his money in VIP Portal, a forex brokerage firm based vip portal forex traders Limuru, vip portal forex traders, Kiambu County.
Mr Alfred Wangai is one of the proprietors of VIP Portal. On April 16,Mr Siahi invested Sh, and on May 22,vip portal forex traders, he put in an additional Sh, Cost breakdown: Building a three bedroom house with Sh. It was to be disbursed within three phases but this never happened. Police investigations carried out revealed that VIP Portal received over Sh1. The deposits were from unsuspecting investors in Limuru, Nairobi, Nakuru, Nyeri, Kisii and Kisumu.
According to Mr Siahi, Mr Wangai first opened his offices in Limuru on or around June KQ Pilots Salary: What pilots at Kenya Airways earn Updated. By OctoberVIP Portal had spread across Limuru. In some cases, Mr Wangai asked investors to sell their land and deposit the money with VIP Portal with a promise that he would more than double it in less than a month, Mr Siahi said.
VIP Portal vip portal forex traders a five per cent commission per month for every new member an investor brought in. As investors in Limuru shovelled their vip portal forex traders savings into the firm, so did their counterparts in Nyeri, Kisumu, Kisii, Nakuru and Nairobi. The minimum the investors were required to part with was Sh25, Meanwhile, Mr Wangai turned to television talk shows to market his firm.
His right-hand man, Mr Felix Oluoch, was his chief online publicist. He claimed that VIP Portal had a global office at a little known island St Vincent and the Grenadines. A few weeks before investors began demanding payments, Money has learned, they questioned the existence of an international office.
Contacted, the Financial Services Authority of St Vincent and the Grenadines denied licensing VIP Portal. But in a sworn affidavit on July 17, last year, Mr Wangai maintained that the firm was incorporated under the Companies Act on August 1, and incorporated as an international business in St Vincent and the Grenadines since August By the time the accounts were frozen, the firm had vip portal forex traders balance of Sh million since its directors, Mr Wangai, Mr Collins Thumbi Mundia, Mr Daniel Komo, and Ms Nkatha Karimi had withdrawn much of the Sh1.
In a letter dated July 30, from the Law Society of Kenya to the Inspector-General of Vip portal forex traders and copied to the CID director and the Central Bank, VIP Portal received deposits from Ms Bernise Kirungi, Mr Francis Thuo and Mr James Mbuthia amounting to Sh3, between April 29, and June 10, vip portal forex traders, In a reply to the law society, the Inspector-General of police noted that VIP Portal had been under the investigation of the DCIO, Limuru, since March The DCIO wrote to Central Bank seeking to establish whether VIP Portal was registered by the regulator to trade in forex or carry out any banking business.
Central Bank denied licensing it. Additionally, in a letter signed by officer in charge Joseph Mugwanja, on May 20,the Banking Fraud Investigations Unit started an inquiry, which established that between October 1, and May 28,VIP Portal received Sh1. Of this amount, Sh7. Notably, closing of the three local accounts has since become the reason that VIP Portal uses to counter accusations by its investors.
I paid Sh, and received Sh, once and the dividends stopped. Then I paid Sh, and got nothing. Remember Me. Thursday, September 9, Bizna Club Directory SME Awards YEA Awards.
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MT5 vip portal forex trading swing trading position sizing. VIP Premium Accounts available at FxPro UK Ltd for trading CFDs on forex and other asset blogger.com5 Forex Trading Platform | Forex Trading Kenya - Forex Brokers in Kenya More information forex trading with renko charts. There is a closed premium channel, if you are not newbie SuperTrader Markets VIP Portal is basically a private live trading room where traders can: Practice their analysis while letting our dedicated team of top-tier analysts vet it. Get access to high probability analysis and signals produced by our pool of top-tier analysts 01/02/ · Mr Siahi is among 13, ‘investors’, who lost over Sh billion to VIP Portal in what could turn out to be the biggest forex trading scam in Kenya’s history. Unsuspecting investors. Police investigations carried out revealed that VIP Portal received over Sh billion between October and September Estimated Reading Time: 5 mins
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