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Originally published by Kenyans
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September 15, 2026
55m ago

How Billionaire CEO Lost Over Ksh100 Million in Forex Deal

How Billionaire CEO Lost Over Ksh100 Million in Forex Deal

This incident unravels days after the Capital Market Authority (CMA) flagged 15 forex investment scam companies...

✨ Key Highlights

Kenyan billionaire Vimal Shah testified in court about losing Ksh102.4 million in a foreign exchange deal gone wrong. The funds were intended to secure dollars for imported raw materials.

  • Lost over Ksh102.4 million in a failed forex transaction.
  • The money was transferred from Shah's company's account after an agreement for foreign currency access in 2023.
  • Bank records show the majority of the funds were transferred to another company, with no direct link established to the accused in court.

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