Last Updated on May 7, 2026 by carolyne juma

DCI Detains Dickson Nyakango Over Sh33M Crypto Investment Scam

Published: May 7, 2026 | 7:46 PM EAT

A Nairobi court has allowed detectives from the Directorate of Criminal Investigations to detain a suspect accused of receiving more than Sh33 million linked to an alleged cryptocurrency investment scam.

Dickson Ndege Nyakango will remain in custody for seven days after Milimani Senior Principal Magistrate Caroline Mugo granted an application by investigators seeking more time to complete investigations.

The application was filed by Chief Inspector Achilles Omondi of the DCI Capital Markets Fraud Investigation Unit.

read;Four Charged with Defrauding Chinese Businesswoman of KSh15.3 Million in Binance Trading Scam

Sh33 million linked to investment scheme

According to court documents, investigators are probing allegations that Nyakango was operating a collective investment scheme contrary to the Capital Markets Act and was involved in conspiracy to defraud members of the public.

The court heard that between April 8 and April 29, 2026, Nyakango’s bank account allegedly received Sh33,670,000 from suspicious accounts linked to the scheme.

Investigators said the account has since been frozen.

read:Jackson Apollo Ananda, Alvin Atieno Charged in Sh15 Million Binance Trade Fraud Case

Genghis Capital complaint

The court further heard that on April 22, 2026, investigators received another complaint from Genghis Capital Ltd over a suspicious investment platform operating under the name “Genghis Strategy,” which allegedly impersonated the licensed company.

Preliminary investigations reportedly showed that Nyakango’s bank account was among the beneficiary accounts receiving funds from the alleged scheme.

DCI raises fears over missing funds

Investigators warned the court that releasing the suspect on bail could jeopardize ongoing investigations.

According to the investigating officer, Nyakango could allegedly withdraw funds from accounts that have not yet been frozen, leading to further financial losses to victims.

The court also heard that investigators are still tracing multiple bank accounts and Mpesa numbers allegedly used to redistribute funds collected through the investment platforms.

read:DCI Arrests Abbas Badru Omuyoma Over USD 280,000 Fake Gold Scam in Nairobi

Two online apps under investigation

The DCI told the court that Nyakango allegedly operated two online applications:

• KCLNL — reportedly pulled down

• GSIWEA — still active

Investigators said the suspect could interfere with the remaining platform if released.

read:How to Make Money Online in 2025: 20 Proven Ways That Work

Arrest at I&M Bank

According to court documents, Nyakango was arrested on May 4, 2026 at around 3:30 p.m. at the I&M Bank Kenyatta Avenue branch while allegedly attempting to withdraw funds.

The DCI further told the court that the suspect admitted operating several bank accounts that are still under investigation before the file is forwarded to the ODPP for possible charges.