Detectives have arrested Harrison Njeru Muthika over allegations that he obtained Sh4.95 million from an investor by promising to invest the money in foreign exchange (Forex) and cryptocurrency trading.
The arrest followed investigations by detectives based at the Directorate of Criminal Investigations (DCI) Nairobi Regional Headquarters after a complainant reported that he had entrusted the money to the suspect for investment.
According to the DCI, the complainant transferred a total of Sh4,950,000 to Njeru through several transactions between April 30 and July 2, 2025, believing the funds would be invested in the two financial markets.
The case has since progressed through the criminal justice system, with the Office of the Director of Public Prosecutions (ODPP) reviewing the investigation file before a court issued a warrant for Njeru’s arrest.
Njeru is being held in police custody pending his arraignment at the Milimani Law Courts, where he is expected to face charges relating to cheating, operating an unapproved collective investment scheme, fraudulently inducing trading in securities, and acquiring and using proceeds of crime.
The allegations raise fresh concerns about the risks investors face when entrusting substantial sums to individuals offering to manage money through Forex and cryptocurrency ventures.
While the two markets offer legitimate investment opportunities, they can also be exploited by individuals making promises that investors may struggle to verify. Prospective investors are advised to establish whether an investment operator is properly authorised and to scrutinise claims of exceptional returns before transferring money.
The DCI said it remains committed to investigating financial crimes and bringing suspects before the courts to answer to allegations against them.
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