Nairobi investigators have launched a major operation after a U.S. investor reported losing Sh500 million in a loan scam, prompting the Milimani Chief Magistrate’s Court to issue sweeping search warrants.
The orders target offices and properties linked to a businessman and 14 other individuals and firms allegedly involved in the scheme.
The warrants, granted on October 30, 2025, followed a request by detectives from the Directorate of Criminal Investigations (DCI) Economic and Commercial Crimes Unit (ECCU).
They authorize officers to search premises in strategic locations across Nairobi, including Flamingo Towers in Upper Hill, Silver Stone Building in Kilimani, Uhuru Highway Mall in Nairobi West, and the PWC Building in Westlands.
Investigators are empowered to seize all relevant materials, including documents, mobile phones, computers, electronic storage devices, servers, and other items that could provide evidence.
The court listed individuals under investigation, among them lawyer Stephen Juma Ndeda, Michael Omondi Okongo, David Onyango Ochanda, Luke Onyango, Abdifatah Adan Kalicha, Abel Onyango Noah, Abdullahi Bare, Joseph Verde, Oloo Collins Juma, Kenedy Oyoo Mboya, Susan Kilonzo Wambua, Stephen Roy Onyango, Judith Akinyi Riaga, and Collins Juma Aloo.
Companies named in the probe include Toureg Insurance Agency, Albeirut Wael Enterprises, Urufle Trading Company Ltd, Fatimark Energy Ltd, and Affluent Wealth Managers.
Cpl. Brian Musau of the ECCU told the court that the investigation began after Charles Blake Stringer, a U.S. national and director of Nutra-Acres LLC in Texas, filed a complaint.
Stringer said that in June 2024, a U.S.-based broker connected him to Affluent Wealth Management, which promised a Ksh.500 million loan to support his agricultural projects in Africa.
He was later instructed to take out a life insurance policy through Toureg Insurance Agency to qualify for the loan and introduced to a person claiming to represent both the agency and a Swedish insurer named “Continental Insurance.”
Between June 2024 and January 2025, Stringer transferred Sh98.7 million to accounts tied to the suspects and their companies. Court evidence shows the funds were quickly withdrawn, transferred through RTGS to Urufle Trading Company and Fatimark Energy Ltd, or taken in cash by several individuals.
Stringer also paid Sh7.3 million to Ndeda & Company Advocates as legal fees and Sh647,500 for the supposed registration of Nutra Acres Africa Ltd. Despite months of negotiations, the loan was never released.
Cpl. Musau said preliminary findings indicate that key digital and physical evidence is located within the targeted premises. Investigators believe the materials will clarify whether offences including organised criminal activity, conspiracy to defraud, obtaining money by false pretences, computer fraud, money laundering, and handling proceeds of crime occurred.
The alleged offences are covered under the Penal Code, Prevention of Organized Crimes Act, Proceeds of Crime and Anti-Money Laundering Act, and Computer Misuse and Cybercrimes Act. Several suspects have already been charged at Kahawa Law Courts as the probe continues.
