A Kenyan man believed to be the architect of a Russian pyramid scheme operating in Kenya has reportedly fled the country with over Sh15 billion belonging to investors.
Abdalla Mohamed Ali, the CEO of Maalin Group of Companies, run a forex trading business in Nairobi and promised investors huge returns on their money before he went missing.
The man is believed to have left the country after last week his car was found dumped at the Jomo Kenyatta International Airport (JKIA), People Daily reported on Wednesday.
His vehicle was found parked at the airport three days after he was reported missing and it is alleged that a sitting Cabinet Secretary helped him flee the country.
The publication noted that powerful government officials among them a deputy Inspector General of Police, Immigration officials, two law firms, a middle east embassy in Nairobi and a senior politician from Northern Kenya were involved in the fraud scheme.
One of the investors identified as Sheikh Abdulla Kulow told People Daily that he invested Sh200 million in the trade after selling three houses in Nairobi’s South C estate.
“This is a huge blow to me and my family because this is what I have been depending on for the last years after I sold my apartments to invest in the scheme. The Government must make sure he is brought back to the country and return our money,” Kulow is quoted.
Through Twitter on Sunday, city lawyer Ahmednasir Abdullahi said the Ponzi scheme started about eight years ago.
“A huge Ponzi scheme went under last week in NAIROBI…losses are conservatively estimated at between American USD 65 to USD 80 million. The Scheme was 8 years old,” he wrote.
He added: “Interesting development. The Ponzi scheme was actually an on-line forex trading company registered in Russia and owned by Russians. According to my sources, the Somali frontman [Abdalla] was a commission agent…”
Maalin had reportedly registered at least 600 members mostly from Dubai, Saudi Arabia, the US, Kenya, and Somalia. To join, investors were required to deposit at least Sh2 million.
Somalia-based publication, Hiiran Online reported that 20 Somali MPs, senior Somalia government officials and members of the Somali community in the diaspora were among those who had invested in the company.
Thank God am broke. Yarrrr!
Thank God am broke. Yarrrr!
Being broke is nothing to…
Being broke is nothing to thank God for. He gave you some brain that you can use to wisely manage your scarce money. You are probably lacking in knowledge, wisdoms, and a good dose of understanding on how to make good conspicuous consumption choices.
It is your fault you are broke. You shouldn’t proudly confess being broke like it is a good thing. Manage your money more wisely and you should be able to change your broke status.
You are admitting that you live a poverty stricken life celebrating being broke. You upstairs attitude needs to change to live a more fulfilling life. It is within you reach!
Have some sense of humor bro…
Have some sense of humor bro. The guy is just making a fun comment. Recognize that prior to giving lectures.
Yaaaap! More coming. After…
Yaaaap! More coming. After Bishop Ngare with his Gakuyo Ekeza scheme, to last week greenhouses fraud, to Echeza, to Wetangula Tokyo scandle, To Laikipia governor Leletama, to Baba Yao, to Sonko, to Uridhi, ex-treasery CS Rotich, to KPC NYS KPLC scandles, to Apostle Ng’ang’a and “Prof Owuor, to Waiguru and Kabura, to Raila’s BBI, to Mr Seed, Optiven to Username, and now MjuaJi’s Investment Group, the clock is ticking. Kenyans have out shined and outsmarted Nigerians in everything from fraudsterism, connism, craftsmanship, mchoroism, thievery of Socrates and will commit murder to get away with their loot. No wonder you cannot even trust your own father, brother, sister or relative to buy you anything in Kenya. Like Gakuyo Real Estate and his Ekeza sacco, Optiven and Username know one thing: it takes 4 to 5 years before their game is unraveled. And as usual, we bribe our way out and like walking in the park, we get away with it Kenyan style. More coming our way.
I have disagreed with very…
I have disagreed with very many Kenyans on these sketchy groups (almost got conned by one Sacco; that one in Georgia) and organizations…been tukanwad severally; even this our own ‘Mwakilishi’ participated in chafuaring my name; all because I blocked a few crooks from exploiting diaspora; especially diaspora surviving bila paperz. Juzi, I rejected a tribal grouping (welfare) that was beginning to sound tricky:
Here are the small fish cases that we fall prey to:
– A Kenyan (with hidden political ambitions and a ready political party) abroad decides to concoct a scheme that requires at least 400,000 Kenyans to each pay $4 (pesa kidogo sana right)…but that is about $400000! eti to create a social network for example insurance and sudden deaths assistance. Sounded far fetched, but I was willing to play along; Lies are boomerangs. For four months all was well; until the first collection of funds to create a platform was achieved. This caricatures want the group, heavily based in the US of A, to use Thailand web designers AND payment methods. Oh hell No! I said. Thailand? It has to be in the US where I can call, sue, and report to BBI at my pleasure. My stance made me a thief, fraud, yada yada…only to find out that ‘Thailand’ was this guy based in Canada, owner of the political party. Since they tried to mess me up, their few hundred dollars will forever remain at Wells Fargo under the failed org. I will NEVER retrieve it for anyone. Thankfully, those bad apples are still faring badly. I was right, the gods vindicated me. Am good.
– Second group of wannabe con wo/men; Some evil geniuses under scam name ‘winpamoja’ decide that they are going to get diaspora to give $60 each to cover their ‘extended families’ in Kenya. That they were helping NHIF to recruit…hehehe. I find myself in the meeting. Our (Kenyan) greatest weakness and intellectual laziness lie in the inability to carefully interrogate investments. I noted something was a miss when the project leader (some lady we will call Njeri) began sounding desperate in her pleas. Whenever someone speaks continuously for almost an hour without swallowing saliva (like a Nigerian Ibo), they are most likely lying. I mean, who doesn’t want to protect their family? Why are you trying so hard to convince me? Anywho, I let her preach. Then they gave us contacts: all Kenyan mobile Numbers…hehehehe. I let that fly too. Since her partners and directors in Dallas; “big names” a.k.a aiders & beneficiaries seemed happy with their luck lying to us, I decided to blow it all open. First, show us what NHIF has done so far; just two years of assistance to families especially outside Nairobi. Her response was “that is beyond my scope. I cannot speak for them”. How stupid is this? A week later, an NHIF clerk had made 80 million in few months.
– Scandal 3; tribal welfare. That we contribute $30 each time someone close, eg parents and siblings die. Ok. Good noble cause. Who are the leaders of diaspora outfit; governor and MP wannabes. I am first to contribute to the crapola. I do this to get credibility to interrogate (I do give solutions too). This harambee begins to feel like a bill; a bill we will accept except we are told that a single person and his wife will decide what is an authentic report of losing a family member…hehehehe. We were not born in 2019! Of course I side step calling them con people and suggest that we use our numbers to convince bigger FDIC protected insurances to create something unique to our needs. Response: No, this is a welfare, not an insurance. husband to the wife approver says. It aint going anywhere. Tuache ukora watu wetu.
I have a suggestion. Instead of crying for useless things like diaspora voting; why don’t we have ‘dually’ govt vetted bodies (Kenyan & US for instance) that we can use to invest. That is, kina Optiven must carry some kind of FDIC type of thing to protect Kenyans from them. Optiven/Username have lied to diaspora and sold them highly inflated apts with third class fixtures; you paid 15 million 3br, good luck if you will find a Kenyan willing to pay 50k to live in it as you are away. Kenyans are broke. If Kenyans can come and sue each other in Washington DC, am sure we too can have that kind of protection.
Optiven@ selling itself to…
Optiven@ selling itself to diasporans will soon explode kapoof! and diaspora will be crying they were promised mansions! If only they knew!!
Invest where you can monitor or at least see your hard earned$$$ grow! Msiseme hamkuambiwa! Mkiona wakina Njoroge, Kamau & njeru parading around from state to state selling investment;fikiria kwanza!
When the deal is too sweet…
When the deal is too sweet think twice. I saw that creepy dude give a presentation to us. My instinct told me run away. He comes to USA about 4 times per year going coast to coast. Money has to be coming from somewhere to cater for all those trips & accommodation.
I smelt a rat with option…
I smelt a rat with option when all they could show were generic plans bought in Amazon on some mansion near museum of Kenya which hata Leo has not reached fruition. Then their hyped returns on investments is just bloated and exaggerated . Do your due diligence people
Greed is killing Kenyans one…
Greed is killing Kenyans one by one because they have to prove to others wamefika.
Greed is the cause of their…
Greed is the cause of their financial losses; wajinga nyinyi.
Imagine the number of those…
Imagine the number of those who have been conned but do not want to be known as such due to shame, self guilt.
Watuz ni wengi sana who are bleeding/bled financially even as we are astounded by the figures/schemes we hear about.
The man who sold 3 apartments.. what does he tell his wife? how does he look into the eyes of his children?
Pyramid schemes have become…
Pyramid schemes have become a norm within the diasporas all over the world. Most of the pyramid scams are headed by some known diaspora members who claim to be very well educated.
The pyramid organizers hire agents in the country of origin to carry out the scams for them while they hide behind the scenes working on the target population.
If anyone (both in the diaspora and in a Kenya) is approaches you to sell you a pyramid scheme that sounds too good to pass, it is time to run and take cover.
I come here for comments and…
I come here for comments and true-life experiences! I read, interpret and learn. Desiderata is my mantra! Long live those who are willing to share life experiences! Life is not an island! Speak up people and enlighten others even if it means offending and ditching the ugly!@ Seneca thank you! your story is an eye-opener!
Ali just needs a little bit…
Ali just needs a little bit of ass-whipping (mob justice) to make him shape up; literally!! That will work miracles to curtail his greed!! Just do it in a broad daylight!
Adding to the scammers list…
Adding to the scammers list. Cretum properties came and conned us for Land in Rumuruti..Laikipia. He keeps lying and giving false promises of when to get titles deeds for his non existent land. Shame to you liats
I have been offered many of…
I have been offered many of those deals especially apartments that one can buy and rent out for upwards of ksh.50,000. All I did was simple check. To afford such a rent, one would need to be earning no less than a nett salary of ksh.300,000. So my next question was. So how many of such people in the Kenyan economy and the 3rd quetion. How come they cannot afford to get a mortgage andbuy such an apartment or even a better house. The answer was simple. It is a conn game.
Has anyone heard an…
Has anyone heard an experience with a sacco that goes by the name Amka…me thinks they are not legit