An Indian national has been arrested in connection with an alleged gold investment fraud involving USD 1,325,970 (approximately KSh 172.3 million).

The suspect, Maheshbhai Rameshbhai Bhadra, was arrested at Jomo Kenyatta International Airport (JKIA) shortly after arriving from Dubai, United Arab Emirates.

According to the Directorate of Criminal Investigations (DCI), his arrest followed a complaint by an investor who alleged that Bhadra defrauded him of the money through an informal Hawala money-transfer arrangement involving agents in Dubai and Kenya.

Investigators say the complainant was allegedly lured into the deal with a promise of acquiring 210 kilograms of gold.

However, the anticipated transaction failed to materialise despite the investor having transferred the funds.

The arrest was carried out following a stop order issued by the Milimani Law Courts.

The suspect remains in custody undergoing processing ahead of his arraignment in court.

The DCI has reiterated its commitment to investigating financial fraud, tracing illicit transactions and bringing suspected perpetrators to justice.