Owners of the VIP portal (online forex trading company) have commited one of the biggest fraud schemes in Kenya.The owners namely Alfred Wangai Mundia and Mercy Nkatha convinced their clients that they would invest their money but failed on their promise after the money was deposited in their accounts.
A law suit has been filled by 122 investors who want their money to be compensated and also want damage fee to be paid since their money has not matured for the past 1year.
The following are the reasons why a huge number of people invested in VIPportyal scheme
1.Money invested would gain 80% returns within a 25 working day period
2.Their was a platinum option which offered 60% investment growth in 29 days
3.Losses incurred during trading would be absorbed by the company and thus the investor had 100% security on his investment.
The charges that the investment firm will face include the following
1.Criminal charges due to the act of defrauding the investors
2.Criminal charge due to operating a fired trading company without CBK license
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