- DCI detectives have arrested Dickson Ndege Nyakango over an alleged KSh 91 million digital investment fraud scheme.
- Investigators have identified two applications, KCLNL and GSIWEA, allegedly used to recruit investors through a WhatsApp group promising high daily returns.
- The court has granted detectives seven more days to analyse financial records and electronic devices as the investigation continues.
A university graduate with a background in economics is at the centre of an investigation into an alleged digital investment fraud scheme involving millions of shillings and cryptocurrency.
Dickson Ndege Nyakango, who studied Bachelor of Science in Economics at Multimedia University of Kenya between 2019 and 2023, was arrested in May 2026 after detectives linked him to two investment applications that allegedly attracted unsuspecting investors with promises of unusually high returns.
According to court documents, investigators from the Directorate of Criminal Investigations (DCI) allege that Nyakango operated applications known as KCLNL and GSIWEA, which were presented as artificial intelligence-powered investment platforms. The investigation began after Kestrel Capital (East Africa) Limited raised concerns over the alleged use of its name and identity in connection with the platforms.
Investigators told the Milimani Law Courts that potential investors were allegedly recruited through a WhatsApp group known as the Kestrel & NATL Quantitative Trading Lab, and promised returns of up to seven per cent daily. Those who joined the scheme were allegedly directed to make deposits through bank accounts, PayBill numbers, mobile money platforms and PesaLink.
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The DCI said one account linked to Nyakango received more than KSh 33 million in deposits during the investigation period. Detectives also identified additional financial channels and cryptocurrency transactions that they said required further scrutiny. The wider investigation has put the alleged financial footprint at more than KSh 90 million, including funds investigators say were moved through cryptocurrency channels.
Nyakango was arrested at an I&M Bank branch on Kenyatta Avenue in Nairobi while allegedly attempting to withdraw money from an account under investigation.
The prosecution subsequently sought more time to investigate the case, citing the number of alleged victims, multiple bank accounts, mobile-money channels and digital platforms involved. The court granted detectives seven days to continue investigations, including analysis of electronic devices and financial records, and efforts to establish whether other people were involved.
The case has also drawn attention to the risks posed by digital investment platforms, particularly those promising exceptionally high returns.
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Nyakango has denied direct involvement in the alleged fraudulent applications and maintains that he operates as a peer-to-peer cryptocurrency trader. The allegations remain subject to the ongoing court process, and Nyakango is presumed innocent unless proven guilty.
By Our Reporter
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