Detectives have arrested Harrison Njeru Muthika over allegations of defrauding a man of KSh 4.95 million through promises of investment in foreign exchange (Forex) and cryptocurrency trading.
The suspect was arrested by detectives from the Nairobi Regional Headquarters following investigations into a complaint filed by a man who claimed he had entrusted his money to Muthika for investment in the two ventures.
According to investigators, the complainant transferred a total of KSh 4,950,000 to the suspect through several transactions conducted between April 30 and July 2, 2025. The money was reportedly sent after the complainant was promised that it would be invested in Forex and cryptocurrency trading.
The matter was investigated before the case file was reviewed by the Office of the Director of Public Prosecutions (ODPP). Following the review, a court issued an arrest warrant, paving the way for the suspect’s arrest.
Muthika is currently in custody awaiting arraignment at the Milimani Law Courts, where he is expected to face several charges linked to the alleged scheme.
The charges are expected to include cheating, operating a collective investment scheme without approval, fraudulently inducing trading in securities, and the acquisition and use of proceeds of crime.
The allegations have drawn attention to the risks associated with investment opportunities that promise financial returns, particularly in the Forex and cryptocurrency markets.
Prospective investors have been urged to exercise caution and establish the legitimacy of individuals and companies offering such services before transferring their money.
The Directorate of Criminal Investigations (DCI) has also urged members of the public to conduct due diligence before committing their savings to investment ventures.
Checking whether an investment company or scheme has the required regulatory approval can help investors avoid falling victim to fraudulent operations.
The arrest forms part of the DCI’s efforts to investigate financial crimes and pursue individuals suspected of engaging in fraudulent activities.
The agency has reiterated its commitment to protecting members of the public and ensuring that suspects are brought before the courts to answer to the allegations against them.
Muthika is expected to respond to the charges in court.
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