• Sunday, 24 November 2024
Eldoret: Hundreds of residents disappointed after being scammed millions of money by a forex trading company

Eldoret: Hundreds of residents disappointed after being scammed millions of money by a forex trading company

More victims of a forex trade investment con on Eldoret are coming forth to expose Springmark Investments Company, which is alleged to have scammed hundreds of the county’s residents. 

The victims accuse the owner of the company of deceiving them and making away with hundreds of millions of shillings.

The accusations come as fresh allegations against another similar company also emerged.

The victims are also blaming a local church for providing a platform and access to church members for Springmark.

At Dominion Church, Action Estate, Eldoret town, a church service is underway. 

Some of the worshippers at this church are counting losses incurred when one man, Ambrose Makech Abuti, lured them into giving him their earnings to invest in forex trading, promising handsome returns.

What they got instead has been tears, heartbreak, and near financial ruin. Susan Waititu is one of the people who were convinced to put their hard-earned money into Springmark Investment Limited, listed as a deposit lending investment company.

For her investment, she was promised monthly returns of 18%. She started with an initial investment of 240,000 and kept topping up the amounts each month. 

To enable her kin to benefit from the would-be boom, she was soon joined in the investment company by her family, including her blind brother, who invested his 1.2 million shillings.

"We were many, a total of about 5.7 million," she said.

William Getumbe, a music producer in Eldoret, suffered the same enticement as Susan and hundreds of others. 

Getumbe, a worshipper at Dominion Church, also blames the church’s leadership for enabling Ambrose to con its members.

Getumbe said, "He was given a platform; the pastor would speak briefly, then Ambrose would talk, and the pastor would tell the congregation that if they didn't invest, they were not supporting or aligned with the church."

Getumbe further says Ambrose was not the only one to get Eldoret residents to invest in forex trading. 

His brother-in-law is also said to have opened another company that also had tens of people put their money in.

Those affected by the scam say their lives have been turned upside down, with their money lost to the company and loans piling up by the day.

Susan and Getumbe, among others, have also blamed law enforcement for failing to act and bring the perpetrators to book, claiming that each time he is arrested, the suspects would be released. 

 

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