A man has been charged with defrauding an investor Sh 3.4 million for crypto market trade.

Victor Ouma Omondi is accused of obtaining the money from Elisha Sawe by falsely pretending that he was in a position to trade in crypto market, a fact he knew to be false.

Omondi is alleged to have committed the offense on 4th April 2025 at Kilimani, Nairobi, with intent to defraud.

He denied the charges before Senior Principal Magistrate Theresa Nyangena.

The prosecution opposed his release on bail on grounds that that he is a flight risk and may abscond if released.

According to the state, Omondi moved from an apartment in Dagoretti to another upon police visiting the apartment.

However, his lawyer opposed the application saying that his client is not a flight risk as sunce he has a fixed abode in Riruta where he was arrested from.

The magistrate will deliver the bail application ruling on 12th March 2026.