Gold Scam Suspect Conrad Maloba Held Beyond 48 Hours as Investigators Race to Unravel KSh 78 Million Fraud
City lawyer Conrad Maloba spent a night in police custody before being released on police bond, even as detectives continue probing his alleged links to a widening international fraud network involving both gold and fake government tenders.
Investigators from the Directorate of Criminal Investigations (DCI) are holding him under a separate line of inquiry tied to a KSh 78 million gold scam, where they are still piecing together financial flows believed to connect multiple high-value fraud cases through the same law firm account.
In one case, a Swedish investor was drawn into a fake government tender for the supply of 500 ambulances and convinced to wire over $470,000 into an account held under Maloba’s law firm. The deal, staged to appear legitimate, included meetings inside official-looking government settings in Nairobi, including Harambee House.
In a separate case, an Australian investor reported losing about $600,000 in a gold transaction that followed a similar pattern, elaborate documentation, staged meetings, and eventual payment directed through the same legal account. The gold was never delivered.
Detectives now believe the two schemes may be connected through a broader financial structure, with the law firm account acting as a key channel for receiving and moving suspicious funds.
Authorities say the use of a professional legal account gave the transactions a sense of legitimacy, making them harder to detect.
However, early analysis suggests money may have been quickly redistributed after landing in the account, raising questions about whether it was knowingly used or exploited.
Maloba was initially held overnight before being released on bond, but remains under active investigation as detectives continue tracing financial records, communication trails, and possible accomplices.speWith both cases now linked to the same financial channel, investigators are no longer treating them separately. Instead, they are examining whether the patterns point to a coordinated fraud network that used trusted legal and institutional systems to move large sums undetected.
For now, Maloba remains at the center of a growing probe that continues to widen as new evidence emerges.
