Tim Orao Shikalo, also known as Vincent Olowa Wanton, appeared before Magistrate Benmark Ekhubi today and pleaded not guilty to the charges.
The court heard that the alleged offense took place between February 1 and August 2, 2024, in Nairobi.
Shikalo is accused of conspiring with others not before the court to defraud Asianic Limited of USD 265,200 (approximately Ksh 38 million) by falsely claiming he could sell 580 kilograms of gold to the company, knowing the claims were untrue.
He faced another count of obtaining money by false pretenses against the law on similar dates and places. The fraud, according to the investigation officer’s costed a foreign investor USD 265,200 (approximately Ksh 38 million).
The scam, which involved over 1,080 kilograms of alleged gold, built on forged documents, assurance of secure delivery, and guarantees of legal backing. However, investigations have confirmed that the supposed gold was actually made up of copper, zinc and tin with not even a trace of any precious metal.
Tim Orao Shikalo’s arrest is the latest development in an ongoing investigation into a well-organized scam that revolved around fake gold purchase contracts.
He’s currently in police custody, undergoing processing as he awaits arraignment in court.
Detectives believe that he played a significant role in planning the deception, which targeted an international investor with false agreements and promises.
This arrest follows the earlier capture of another suspect, Steve Okoth Odek, who also goes by the alias David Beth.
He was apprehended on 7th December 2024 and later charged in connection with the same scheme. His arraignment marked the beginning of efforts to dismantle the group behind the scam.
Investigations are still ongoing with two more suspects under close watch.
Authorities say these individuals are believed to be key players in the same criminal network, which has used fraudulent tactics to lure unsuspecting victims with fake gold deals.
