Kenyan Tycoon Jared Otieno Charged with Conning Businessman of Sh300 Million in Fake Gold Scam

Flashy Kenyan businessman Jared Otieno has been arraigned in court in connection with the fake gold scam.

Appearing before Nairobi Chief Magistrate Francis Andayi, the tycoon has been charged with conspiracy to defraud, obtaining money by false pretenses and preparing to commit a felony.

Otieno is accused of fraudulently obtaining Sh300 million from a Laos company director by pretending he could sell him gold.

He is alleged to have obtained $3 million from Sounthorn Chanthavong, a director of Simoung Group, between February 8th and February 25th at Kaputei Gardens in Nairobi.

Otieno has been charged alongside 15 other suspects who were arrested with fake gold last week.

They have all pleaded not guilty to the charges.

The accused persons will remain in police custody until Monday next week when a pre-bail report will be available.

Otieno was arrested at his palatial residence in Karen by detectives from the Directorate of Criminal Investigations (DCI) on May 17th. Detectives also seized two of his brand new luxury vehicles –a Porsche and Bentley.