Detectives have arrested Harrison Njeru Muthika over allegations that he defrauded a man of Sh. 4.95 million by promising to invest the money in foreign exchange (Forex) and cryptocurrency trading.
Muthika was apprehended by detectives from the Nairobi Regional Headquarters following investigations into a complaint by a man who claimed he had been persuaded to channel his money into the two investment ventures.
Investigators established that the complainant transferred a total of Sh. 4,950,000 to the suspect in multiple transactions between April 30 and July 2, 2025, after allegedly being assured that the funds would be invested in Forex and cryptocurrency trading.
The matter was subsequently reviewed by the Office of the Director of Public Prosecutions (ODPP), paving the way for a court to issue a warrant of arrest against Muthika.
The suspect is being held in custody pending his arraignment at the Milimani Law Courts, where he is expected to face charges including cheating, operating a collective investment scheme without approval, fraudulently inducing trading in securities, and acquiring and using proceeds of crime.
