The Directorate of Criminal Investigations (DCI) has warned Kenyans over a pyramid scheme that has looted millions of money from unsuspecting Kenyans.
NMK Capital Investment Limited has over time lured investors who are now crying foul after depositing millions of shillings in the pyramid scheme.
“Over 5,000 investors were hoodwinked to enter into a 6-month contract with NMK with a minimum investment of Sh50,000.”
“This would accrue a redeemable monthly interest of 15% or a similar percentage of compounded interest redeemable at the end of the contract period,” DCI noted in a statement.
According to the DCI, NMK Capital Investment Limited was registered in the country in 2021 and has seven directors, including a Kenyan.
“Lately, DCI’s Serious Crime Unit has received numerous complaints from victims who ventured into the scheme, laying claims that nothing is left of their thousands and millions of investment after the directors fell out and the key suspect holed up,” the statement read in part.
The officers noted that the main pyramid scheme has been working closely with another sister company, Bidsworth Autorents Capital Limited.
Both companies have offices in Nairobi’s Central Business District (CBD).
In addition, police discovered that the company went further to offer car hire services by leasing vehicles from unsuspecting members of the public, before hiring them to individuals and agencies.
“Car owners allegedly received 30 percent of the proceeds from the company. Other ventures included off-plan properties,” DCI stated in their statement.
consequently, investors are now reporting to have lost millions of money from the investment and payments made for off-plan houses.
At the same time, those who leased out their vehicles to NMK, have lost their vehicles.
The DCI has issued a warning to members of the public that the two companies are under active investigations, and have become a major financial risk to the public.
“We call on Kenyans to exercise caution and due diligence before engaging in any such ventures whose proprietors’ sheer greed for riches is founded on fraudulence,” the DCI cautioned.