Police launch manhunt for businesswoman over Ksh. 300M investment scam

In what appears to be a common con trend in the country, hundreds of Kenyans in Nairobi, Machakos, and Kajiado counties are the latest victims of an investment scam after investing over Ksh.300 million in a money lending scheme.

Businesswoman Pascaline Peter, who is behind the investment scheme, is being sought by police after going into hiding.

According to the victims, the suspect lured them into a trap of investing millions, which could later be loaned at an interest of 30 per cent to unknown borrowers.

What started as a good deal with interests being paid on time has turned into delayed games and empty promises.

Citizen TV talked to a group of investors, in Nairobi's Central Business District, who are still in shock following the loss. For fear of being ridiculed, they requested anonymity.

One of the victims has kept a record of how much she invested and the dates when she expects her money to generate interest.

"First I started with 100k, then I went another 100,000, another 100,000, and then I was not picking my interest for a while. I took my interest for one month, the next month I took it, and I was like, let me give it back to her,” said a victim.

Having invested for the last eight months, she has lost over Ksh.5 million to the scam, which was run by someone she considered a friend.

Another man, who lost close to a million shillings, says he had his doubts when he was introduced to the business; he was, however, convinced by a friend to invest more when he earned his first interest.

"The whole amount I put in, me nimechukua pesa mara mbili which I think is 94,000 ndio nilirudishwa. Mpaka sometimes last week the same friend ananipigia na kitu ya kwanza ananiambia kuna shida pressure wacha ipande, niliganda,” said the man.

Another group of eight in Mala, Machakos County had travelled from Ruaka and Kitengela in search of Pascaline, who allegedly lives in the neighbourhood. However, they were unlucky after they were informed that she had not been seen around for the last week.

"I’m so concerned and I am so worried because prior to this we have been talking on the phone until this week. I have been talking to her; I didn’t know it was a mess after referrals from friends,” said Lynne Magai.

Magai has lost over Ksh.500,000 which she invested at the beginning of this month. But there was a catch that attracted many to invest in the money-lending idea.

"The policy was if you give her money, she is supposed to pay you with a certain interest. But if you want money as an investor, you can borrow money at no interest because she still has your money, so I think that was a catch. I can give you my money which will come at an interest and you can get without interest,” Magai explained.

Ruai Police Commander Patricia Yegon has confirmed that they are investigating cases reported at the station by the victims.

"We have received some three reports, some members of the public who have been conned through online. Currently, the DCIO has taken up the matter and he is doing investigations,” Yegon said.

Our efforts to contact the suspect were futile as her phones were switched off. Meanwhile, more victims from Kenya and abroad continue to report to the police, demanding back their hard-earned money.