Man Behind Eldoret’s KSh 2.4 Billion Investment Scam Flees to South Sudan, Hundreds Left in Financial Ruin
“Abuti allegedly escaped to Southern Sudan via Jomo Kenyatta International Airport last month, leaving behind a trail of victims who lost over KSh 2.4 billion in a fraudulent investment scheme”
Investors in Eldoret protest after losing billions of shillings in a forex scam/File Photo
Ambrose Makech Abuti, the mastermind behind the multi-billion-shilling Spring Mark Investment scam based in Eldoret, is reportedly on the run after fleeing the country, according to a senior security source.
Abuti allegedly escaped to Southern Sudan via Jomo Kenyatta International Airport last month, leaving behind a trail of victims who lost over KSh 2.4 billion in a fraudulent investment scheme.
Among the 600 unsuspecting investors are judiciary officers, university lecturers, prominent businessmen and women, lawyers, politicians, medical doctors, and police officers, all duped into investing in the bogus scheme. Religious leaders, including bishops and their congregations, as well as primary and secondary school teachers in the Rift Valley region, also fell prey to the scam.
For the past year, Abuti has evaded police by constantly changing locations and using mobile phones registered under friends’ names to communicate with some of his victims. His phone signals were last traced to Kabarnet, Iten, Eldoret, Kitale, Nairobi, and Murang’a before he switched them off two months ago.
Uasin Gishu County Police Commander Benjamin Mwanthi confirmed that local police, in collaboration with detectives from the Directorate of Criminal Investigations (DCI) in Nairobi, are actively pursuing the fugitive.
“We received reports that one of the victims spotted him at JKIA last month, apparently on his way to Southern Sudan in an attempt to evade justice,” Mwanthi said. He assured the victims that despite the setback, the police are committed to tracking Abuti down and bringing him to justice.
So far, more than 500 victims have lodged complaints with DCI officers stationed at Eldoret Central Police Station since last month. The victims come from various counties, including Turkana, West Pokot, Trans Nzoia, Elgeyo Marakwet, Baringo, Bungoma, Nakuru, Naivasha, and Kericho.
Affected investors have been urged to present deposit statements, slips, and any other relevant documentation related to the collapsed online forex scheme as detectives continue their investigations.
William Getumbe, an evangelist and gospel singer who lost KSh 1.2 million in the scam, recounted how Abuti’s promise of a monthly interest rate of 18% lured many investors, including church leaders and their congregations, to borrow money from banks to invest.
“The mastermind behind Spring Mark Investment disappeared after convincing hundreds of people with the promise of substantial returns,” said Getumbe, who has been leading protests demanding Abuti’s arrest and the refund of their money. “I have all my documents here showing I invested KSh 1.2 million. We were promised 18% monthly returns, with the option to withdraw our money after six months.”
Another victim, who wished to remain anonymous, narrated how she took out loans totaling KSh 3 million from Cooperative Bank and Equity Bank to invest in the scheme. “I’m in serious trouble now. I owe huge debts to both banks, and auctioneers are threatening to seize my car and other assets to recover the loans,” she lamented.
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