Mohamed Noor Charged in Sh32M Dubai Gold Fraud Case
A forex bureau owner has been charged with allegedly defrauding an investor of more than Sh32 million in a gold transaction said to involve shipment to Dubai.
Mohamed Noor, whose bureau operates along Luthuli Avenue in Nairobi, appeared before Milimani Senior Resident Magistrate Irene Thamara and denied all charges.
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Fraud Allegations
The prosecution alleges that Noor obtained USD 250,500 (approximately Sh32,314,500) from John Sadipo of Sadipo Law Group.
It is claimed that he falsely represented that he was in a position to smelt and ship 495 kilograms of gold from Kenya to Dubai, a claim prosecutors say he knew to be untrue.
According to court documents, the alleged offences were committed between January 1 and February 3, 2026, in Nairobi, jointly with other suspects. Some of the co-accused have already been charged, while others are reportedly still at large.
Money Laundering Charges
Noor also faces charges of money laundering and possession of proceeds of crime.
The prosecution further alleged that on February 17, 2026, Noor entered into an agreement to pay SRK Logistics USD 217,900, allegedly knowing the funds were proceeds of crime linked to a settlement debt owed by Mohazcom Trading.
Bail and Next Court Date
The court released Noor on a bond of Sh1 million or an alternative cash bail of Sh350,000.
The case is scheduled for mention on March 2, 2026, for pre-trial directions.
Prosecutors have indicated their intention to consolidate the matter with other related cases currently pending before the court.
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