Forex Training and consultancy ltd director charged with defrauding over 50M


The director of Forex Training and consultancy limited has been charged with 68 counts of offences for defrauding dozens of unsuspecting Kenyans their heard earned cash.

Emmanuel Mulinge Maundu alias Emmanuel Wambua Maundu is accused of obtaining a total of 51.8 million shillings from 68 Kenyans by informing the victims that they would be getting 30% of their contributions every month.

For instance, in one of the counts, Maundu is charges with obtaining Sh 3 million from Ann Wambui Mngolia BT falsely pretending that he was in a position to be giving her a monthly interest of 30% of her Sh 3 million, a fact he knew to be false.

The accused is alleged to have commuted the offences on diverse dates at View Park towers in Nairobi.

He denied all the charges before Principal Magistrate Theresia Nanzushi.

His lawyer tried to insist that he be released on bail but the magistrate declined to grant bail for now until she gets the probation officer’s report.

The magistrate cited that the complainants, some of whom were in court were baying for his blood and his life could therefore be in danger.

“This is for his own safety, it is my duty as a state officer to ensure the safety of the accused,” the magistrate stated.

It is further alleged that the accused was arrested trying to flee.

Police in Langata also intend to file over 40 (forty) more counts of similar offences against the accused person.

The matter will be mentioned on Tuesday 10th for the probation report to be availed.