Detectives in Meru County on Saturday arrested a suspected mastermind behind a fake gold investment syndicate that allegedly defrauded a retired Teachers Service Commission (TSC) employee of more than Sh7.5 million through what investigators described as a sophisticated scam.
The suspect, identified as Dennis Kinoti, was tracked down in Imenti North, Meru County, following what detectives termed as “painstaking investigations and intelligence-led operations”.
According to the Directorate of Criminal Investigations (DCI), the 61-year-old victim was lured into the fraudulent scheme with promises of huge profits from gold investment deals.
Investigators say the retired civil servant lost a total of Sh7,595,309 between February and April 2026 through a series of bank and M-Pesa transactions linked to the syndicate.
The suspect was arrested at his hideout in the Gakurine area of Meru County during an operation carried out by detectives pursuing leads in the case.
“A search conducted at the suspect’s residence led to the recovery of several Safaricom SIM cards believed to have been used in the fraudulent scheme,” the DCI said in a statement.
Detectives also seized a grey Volkswagen Passat suspected to have been purchased using proceeds of crime. The vehicle was towed to Meru Police Station, where it is being held as an exhibit pending further investigations.
Police said the suspect remains in custody and is undergoing processing ahead of his arraignment in court.
Authorities have meanwhile intensified a manhunt for other members of the syndicate who are still at large.
The DCI warned members of the public against falling victim to “flashy gold investment deals promising quick riches”, saying fraudsters were increasingly targeting unsuspecting Kenyans using elaborate scams disguised as lucrative business opportunities.
The agency urged the public to verify investment opportunities before sending money or entering into business agreements.