Directorate of Criminal Investigations on Thursday, September 7 opened investigations into a pyramid scheme operating in the name of NMK Capital Investment Limited.
In a statement, DCI accused the company of pooling thousands of investors who all allegedly lost their money.
“The suspicious company believed to have been registered in the country in 2021 has 7 directors, among them one Ngugi Mucheru Keeru (NMK) who is also the sole Director and Signatory of a sister company; Bidsworth Autorents Capital Limited. The companies are located in the city of Nairobi at Corner House & Norwich Union Hse respectively,” DCI’s investigations statement read in part.
In the report, officers working on the case alleged that over 5,000 investors who filed complaints indicated that they had entered into a six-month contract with the said company.
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Each investor paid Ksh50,000. According to the agreement, each investor was assured of getting a redeemable monthly interest of 15 per cent or a similar percentage of compounded interest redeemable at the end of the contract period (6 months).
According to DCI, the company allegedly went further to offer car hire services by leasing vehicles from unsuspecting members of the public, which it then hired out to individuals and agencies.
“Car owners allegedly received 30 per cent of the proceeds from the company. Other ventures included off-plan properties,” the DCI statement read in part.
“Eventually, investors are reporting to have lost millions of money from the investment and payments made for off plan houses, while some of those who leased out their vehicles have no track of them,” it added.
Following the loss of millions, DCI warned Kenyans against investing with the company pending investigations.
“Consequently, the DCI warns the public that NMK Capital Investment Limited and Bidsworth Autorents Capital Limited are under active investigations, and calls on Kenyans to exercise caution and due diligence before engaging in any such ventures whose proprietors’ sheer greed for riches is founded on fraudulence.”
By the time of this publication, the company and individuals named by DCI had not issued statements regarding the allegations leveled against them.
