John Githinji Mathenge who is facing a total of nine counts of fraud is alleged that on September 19, 2019, and July 31 2021 at Hazina Towers jointly with others knowingly carried out the business of collective Investment schemes without Licences issued by the Capital Market Authority(CMA).
In the charge sheet read in court, the accused is alleged to have defrauded 8 Kenyans over Ksh1M in the pretence that he was offering an online investment scheme through his three companies namely Richmind Investment, Calibra Kenya and Sokomart limited a fact he knew to be false.
According to the investigating officer, the businessman is alleged to have defrauded many Kenyans who are yet to report the matter to police.
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In a cover report tabled in court, the accused John Githinji Mathenge who was smoked out of his hideout by police is alleged to be the owner of the three companies which advertised their scheme in the local dailies on September 19, 2019.
The complainants and other Kenyans got interested, they contacted the numbers given on the advert and went ahead to visit the offices which were located at Hazina towers 9th floor, Utalii lane off University way.
"They were granted agreement which stated that the minimum amount invested was Ksh20,000 and maximum was Ksh900,000, They were also given bank accounts and MPESA pay bill numbers to deposit the money," the police report read in part.
They invested the amount and waited for the interest returns in the given period only to find out that they had been defrauded.
It's alleged that the accused person who is the CEO of the said company went ahead and closed the company offices and switched off the company lines and his mobile phones after withdrawing all the money.
His lawyer pleaded with the court to release him on bail saying the accused is a law-abiding citizen and will adhere to court rules.
Residence Magistrate Caroline Muthoni Kamau released the suspect on a bond of Ksh500,000 or cash bail of the same amount.
