Detectives from the Directorate of Criminal Investigations have arrested a suspected forex trader after recovering fake bank notes worth KSh5 million during a late-night operation in Nairobi.
According to investigators, the suspect had been under surveillance for several weeks after reports emerged that counterfeit foreign and local currencies were circulating among traders in the city. Officers from the elite crime unit raided an apartment in the Kilimani area where they allegedly discovered bundles of fake US dollars and Kenyan shillings hidden inside metallic boxes.
The suspect, who presented himself online as a successful forex trader and cryptocurrency expert, is said to have been luring young investors with promises of huge profits and luxurious lifestyles displayed on social media platforms.
During the arrest, detectives confiscated several laptops, money-counting machines, mobile phones, and documents believed to be linked to the counterfeit syndicate. Authorities also recovered printing materials suspected to have been used in producing the fake notes.
Speaking after the operation, DCI officers warned members of the public against engaging in suspicious investment schemes and urged traders to verify large cash transactions carefully.
“We are pursuing other individuals believed to be connected to this criminal network. Counterfeit currency poses a serious threat to the country’s economy,” an officer involved in the investigation stated.
The suspect is expected to be arraigned in court facing charges related to possession of counterfeit currency, fraud, and operating illegal financial activities as investigations continue.
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