A Nairobi man, Fred Oliech Obach, has been formally charged in court for allegedly defrauding a United Arab Emirates (UAE) businessman of over KSh 28 million through a fake gold transaction.
Obach appeared before Milimani Senior Principal Magistrate Teresiah Nyangena, where he denied three criminal charges related to the scam. Prosecutors say Obach, together with an accomplice who remains at large, conspired to deceive Kais Lahyani, representing Oro Trading FZE LLC, by claiming they could supply large quantities of gold.
Details of the Alleged Scam
- Conspiracy to defraud: Between June 23 and June 25, 2026, at undisclosed locations in Nairobi, Obach and another person allegedly plotted to defraud Lahyani of USD 225,100 (approximately KSh 28 million) by falsely asserting they could sell 150 kilograms of gold.
- Obtaining money by false pretences: On June 25, 2026, at Ridgeways in Nairobi, Obach is accused of fraudulently obtaining USD 225,100 in cash by claiming he could deliver 25 kilograms of gold.
- Acquisition of proceeds of crime: The prosecution further alleges that Obach received money he knew or ought to have known was obtained through criminal means.
Obach was granted bail set at KSh 400,000 cash or a bond of KSh 2 million as the case proceeds. The matter is scheduled for mention on September 9, 2026.
