Intro:
A Cameroonian national believed to be the key figure behind a multi-million shilling fake gold scam has been arrested in Dagoretti, Nairobi. Francis Oufa is accused of defrauding a Canadian investor of Sh79 million in a sophisticated scheme that has now drawn the attention of international authorities.
Highlights:
- Francis Oufa arrested in Dagoretti for fake gold scam
- Suspect linked to Sh79 million fraud targeting Canadian investor
- Cameroonian national believed to be the scheme’s mastermind
- Authorities intensifying crackdown on gold-related fraud in Nairobi
Main Story
Detectives in Nairobi have arrested Francis Oufa, a Cameroonian national, suspected of orchestrating a high-level fake gold scam that defrauded a Canadian investor of Sh79 million. Oufa was nabbed in Dagoretti after weeks of surveillance and investigation by Kenyan security agencies.
Authorities say he was the brains behind a syndicate that lured the foreign investor with promises of a lucrative gold deal — only for the transaction to turn out to be an elaborate con
The Canadian investor is said to have been convinced that he was buying high-grade gold, complete with forged export documents, fake customs paperwork, and staged inspections. It was only after transferring millions that the investor realized he had been conned — the gold never existed.
Oufa reportedly posed as a high-ranking dealer with ties to legitimate suppliers, using rented offices and a network of local contacts to give the deal a veneer of credibility.
Police say the arrest is a breakthrough in a wider operation targeting fake gold cartels that have tainted Kenya’s image in international investment circles. More suspects are believed to be involved, and investigations are ongoing to recover the stolen funds and dismantle the syndicate.
Cases of gold fraud, especially involving foreign investors, have been on the rise, prompting authorities to intensify efforts to crack down on criminal networks operating under the guise of precious metal trade.
In the glittering world of gold deals, it seems not all that glitters is real and sometimes, it costs millions to learn that.
