Avoiding Gold Scam: Nairobi fake gold syndicate members arrested

Avoiding Gold Scam: Nairobi fake gold syndicate members arrested

If you are a gold investor, avoiding gold scam should your top priority. For a long time we have been trying to warn gold investors of the risks when trying to buy gold from Africa. There are a a lot of fake gold syndicates especially in Cameroon, Ghana, Togo, Nigeria, and Kenya. These countries top the list of fraudsters involved in the buy gold scam.

This practice has made business in the country very difficult as investors are looking elsewhere.

On Wednesday, seven fake gold syndicate suspects were arrested by detectives from the Directorate of Criminal Investigations whilst in the midst of a transactional meeting to fraud two Malaysian nationals.

They were on the verge of a 500-kilogram of semi-refined gold bars fraud scam.

Frustrated and visibly shocked, Halid Mohamed Yaacob and Zulkannaain bin Ramali landed in Kenya from Kuala Lumpur on Monday, following an invitation by Rock Africa miner operated by the suspects made up by six Kenyans and one Congolese national who has an active case in court and out on bond.

The seven are Didier Muke, Brian Otiende, Patrick Otieno, Mark Kabete, Ken Kiboi, Joshua Ngandi and Charles Cincent Njerenga.

In a well-choreographed scheme, they had set up an operational base in a house in Kileleshwa, with fully furnished office-style rooms to steal from unsuspecting foreign nationals.

Yacoob and Ramali were to meet the seven this morning, to finalize on the first shipment of 50 kg refined gold, per kilogram going for Ksh.7.2 million.

The 500-kilogram gold amounting to Ksh.2.85 billion was to be sourced from the democratic republic of Congo.

A few minutes into the meeting, detectives from the directorate of criminal investigations busted what would have amounted to billions of shillings in fake gold scheme.

Astonishingly, the suspects had hired a G4S security team to keep a guard at the main entrance and as they engaged the Malaysia nationals, the G4S guards were part of those arrested by the DCI officials and set for arraignment in court on Thursday.

This latest ring of fake gold scheme meant to swindle the two Malaysians becomes part of a long list of similar incidents where foreign nationals are scammed.

How to avoid Gold scam

GoldBullionReviews.Directory is dedicated to helping you find real vendors of gold in Africa by providing reviews. These reviews are from past experiences of buyers like yourself. They are not always 100% accurate but have helped more than 100 people buy gold dore bars without getting scammed.

Avoiding Gold scam is very easy, the scammers are desperate and always want to get things going as soon as possible. They are always very impatient, won’t answer your questions with their only focus being payment.

There are many ways to avoid Gold scam and the first is staying away from vendors that offer cheap prices. We all want to make profits but if anything is too good to be true then it is a scam. People come to us with complaints and we see they were trying to buy a Kilogram of Gold fro $17,000. This is outrageous and we are shocked they fall this.

A gold business is between you and the buyer if a vendor keeps telling you to verify their legitimacy on the Ministry of Mines or Ministry of Commerce, then they are scam. If you search on Google, you will see these countries have about 20 Ministry of Mines website. The scammers have cloned these sites and now use it as confirmatory links to steal from people. You contact these so called Ministry of Mines they tell you to get a fake Buyer’s Permit. There’s nothing like a Buyers Permit so be safe.

Conclusion

If you are talking with a vendor and need to be sure, send the contact to us and we will help you verify. Our services are free and anything we get comes from your generosity. Help us fight scam by reporting fake vendors today. Do not stay quiet for your review might help others avoid losing money.