Investigators say the suspect allegedly defrauded a U.S. investor through a fake gold transaction involving more than $431,000 in USDT.
Kenyan authorities have arrested a woman accused of orchestrating a fake gold investment scheme that allegedly defrauded an American investor of over $431,000 in USDT. The arrest comes amid increasing scrutiny of crypto-linked financial crimes across East Africa as digital asset adoption continues to expand.
According to Kenya’s Directorate of Criminal Investigations, the suspect, identified as Mildred Kache, also known as Sabreena Ayesha, was apprehended in Nairobi following a forensic-led investigation. Authorities stated that the suspects allegedly convinced the investor they could supply 400 kilograms of gold bars. After receiving documentation and assurances linked to the transaction, the investor reportedly traveled to Nairobi to finalize the deal.
Investigators said approximately 431,380 USDT was transferred to wallets associated with the suspects. However, the promised shipment was never delivered. A second suspect, Ibrahim Yusuf Mohamed, reportedly escaped during the operation. Authorities said a vehicle connected to the investigation was recovered at the scene while efforts to locate the suspect remain ongoing.
The incident adds to a growing number of
crypto-related fraud investigations in Kenya, where authorities have
intensified efforts to combat digital financial crimes involving
cryptocurrencies, online investment scams, and cross-border transactions.
Law enforcement agencies have increasingly collaborated with financial intelligence units and international partners as virtual asset usage continues to rise across the region.
Kenya remains one of Africa’s leading
crypto markets due to strong fintech adoption and widespread use of mobile
payments. However, regulators have repeatedly warned that informal trading
systems and limited oversight continue to create opportunities for fraud and
illicit financial activity.
The case reflects growing regulatory and law enforcement focus on cryptocurrency-related financial crimes in Africa. As adoption expands, authorities are moving to strengthen oversight, improve compliance standards, and increase investor protection across the digital asset sector.
