Nairobi Men Face Charges in Ksh. 15.36 Million Cryptocurrency Fraud
Two Nairobi men were arraigned in Milimani Law Courts today, accused of defrauding a businesswoman of Ksh.15.36 million (approximately $116,000 USD) through a fraudulent cryptocurrency investment scheme. Jackson Apollo Ananda and Alvin Oduya Atieno allegedly convinced Tuyishime Grace to invest in a fake Binance trading prospect.
The case highlights the growing risk of cryptocurrency-related scams targeting Kenyan investors. Authorities say the pair falsely represented their ability to facilitate profitable crypto trading, preying on the complainant’s trust at Nairobi’s serena Hotel on April 30, 2025. The accused face charges of obtaining money by false pretenses and conspiracy to defraud, under Section 317 of the Penal Code.
Prosecutors told the court that Ananda and Atieno, along with others currently at large, knowingly made false representations to Tuyishime. The defendants pleaded for leniency, asserting they are not flight risks and will comply with any bond terms set by the court.
Magistrate Caroline Mugo ordered a pre-bail report to be prepared before ruling on their release. A bail hearing is scheduled for October 9, 2025. The inquiry is ongoing, and authorities are seeking to identify and apprehend additional suspects involved in the alleged scheme.