Two Kenyan Businessmen Charged in Elaborate Fake Gold Scam
Shikalo pleaded for lenient bail terms, telling the court he was unemployed and the sole caregiver to his ailing mother.
Two businessmen have been charged afresh with conspiring to defraud a foreign company of USD 265,200 (approximately Ksh 38.1 million) in a fake gold transaction involving 580 kilograms of non-existent gold.
Steve Okoth Odek and Tim Orao Shikalo, alias Vincent Oloa Wanton, who were before Milimani Principal Magistrate Caroline Mugo, were denied two fraud charges: conspiracy to commit a felony and obtaining money by pretense from a foreign firm, Asianic Limited.
According to the charge sheet, Odek and Shikalo, jointly with others not before the court, are alleged to have conspired between February 1 and August 2, 2024, to defraud the company by falsely claiming they could supply 580 kg of gold, despite knowing this to be untrue.
The prosecution told the court that on diverse dates between February 1, 2024, and August 2, 2024, at Nairobi City County, the two jointly with another already arraigned before the court, conspired to commit a felony namely stealing a sum of 265,200 USD by falsely pretending that they were in a position to sell 580 kilograms of gold.
In the second count, the prosecution stated that between February 1 and August 2, 2025, within Nairobi County, the accused persons again obtained the money under pretenses, continuing the fraudulent claim about the gold sale.
Shikalo pleaded for lenient bail terms, telling the court he was unemployed and the sole caregiver to his ailing mother.
The accused persons were ordered to remain on their previous cash bail of Ksh 100,000 and Ksh 80,000 respectively until September 2, 2025, when the case will be mentioned for further direction.
