Two suspects, a husband and wife posing as forex traders, have been charged with scamming two Nairobians a total sum of KSH 13.8 million.
The two, Timothy Iguta Macharia and Norah Gatugi Micheni, appeared before senior principal magistrate Paul Mutahi on 29th May 2026 and pleaded not guilty to the charges.
According to the charge sheet, seen by kauntinwes.com, on diverse dates between September 2025 and February 2026 in Nairobi County, within the Republic of Kenya, the suspects jointly obtained KSH 12,300,000 from Stacy Kabura Njoroge by falsely claiming they were in the Forex Business and promising to remit 10 percent of the principal amount every month a fact they knew to be false.
The duo also jointly acquired KSH 1,500,000 from Duncan Kariuki Muya by pretending they were engaged in the Forex Business and promising to remit 15 percent of the principal amount monthly, even though they knew this to be false.
In total, they knowingly obtained KSH 13,800,000 through various accounts and mobile money transactions.
The couple transacted funds through accounts in the names of Timothy Iguta Macharia at Stanbic Bank and KCB Bank, as well as via Safaricom PLC’s M-Pesa platform, in the names of both Timothy Iguta Macharia and Norah Gatugi Micheni.
At the time of these transactions, they knew or had reason to believe that the money involved was proceeds of crime.
In his ruling, the presiding magistrate granted them both a bond of KSH 2 million or an alternative cash bail of KSH 300,000.
