How this Limuru Couple conned Kenyans a Billion Shillings in an Online Forex Trading Scam

The couple duped thousands of local investors that they would double their deposits.


Alfred Wangai and Mercy Nkatha, through their VIP Portal, a Limuru based online forex trading company, received more than a billion Kenya shillings from their victims.

The couple duped thousands of local investors that they would double their deposits.

In what is being described as Kenya’s biggest forex trading scam ever, the couple conned the investors between October 2013 and September 2014.

The couple reportedly told the unwary depositors that they would use their deposits to trade in stocks in internationally listed companies.

They however reneged on the promise as soon as the money was hit their bank account. It is when some suspicious investors reported the matter to the police.

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It was later found that some 13,000 Kenyans had fallen victim to the scam, losing a total of about Sh1 billion to the couple within eight to nine months.

Every investor was reportedly asked to deposit a minimum of Sh25,000 as investment. The investors were promised dividends of between 60 and 80 per cent of the amount invested for four consecutive months.

After the expiry of the four months, the investors would get their initial total deposits back.

Today, a Kiambu court was told the couple has begun refunding their victims. The court heard that the couple had already paid back more than Shs 900 million.