Two people have been charged with defrauding two investors a total of Sh 13.8 million in a fake forex business.

Timothy Iguta Macharia and Norah Gatugi Micheni are accused of obtaining Sh 12.3 million from Stacy Kabura Njiroge by pretending that they were in a forex business and that they would be remitting a 10 percent from the principal amount every month, a fact they knew to be false.

The accused persons are alleged to have committed the offense on diverse dates between September 2025 and February 2026 in Nairobi, with intent to defraud.

Macharia and Micheni are also charged with obtaining Sh 1.5 million from Duncan Kariuki Muya by pretending that they were in a forex business and would be remitting a 15 percent of the principal amount every month, a fact they knew to be false.

The duo is also facing charges of acquisition and use of proceeds of crime, to wit, the Sh 13.8 million, contrary to the proceeds of crime and Anti-Money Laundering Act.

They denied the charges before Senior Principal Magistrate Geoffrey Onsarigo and were granted a bond of Sh 2 million with alternative cash bail of Sh 300,000.

The case will be mentioned on 8th June for pre-trial.