A director of an Ireland-based company has told a Nairobi court how he was allegedly swindled millions of shillings while attempting to purchase gold in Kenya.
Satbinder Singh, a director of Asianic Limited, testified before Principal Magistrate Paul Mutai in a case where three men are facing charges of fraud.
Singh told the court that he travelled to Kenya in 2024 alongside his business associate Marco Colombo Conti in search of a gold investment opportunity.
Gold Deal Introduced in Nairobi
While in Kenya, Singh testified that they met several individuals, among them Alain Mwadia Nvita, who introduced himself as the Chief Executive Officer of Quantum Minerals.
Nvila was accompanied by Lehman John Raymond, whom he described as his cousin. The two later introduced Singh to Frank Kiteti, a Tanzanian national said to be their agent in Tanzania.
Singh told the court that discussions centred on the purchase of 112 kilograms of gold.
“For this transaction, Alain and Lehman agreed to provide 31 kilograms of gold as collateral to cover previous payments of USD 400,000 made in 2022 and further payments to be made in February 2025,” Singh testified.
Invoices and Payments Made
The court heard that the earlier USD 400,000 had been paid by Conti during a visit to Kenya in June 2022, when he intended to buy 100 kilograms of gold from one Alain Lukuse.
Singh testified that they opted to physically carry the 31 kilograms of gold as collateral.
He told the court that on February 5, 2024, Daniel, through his company PATVAD Trading, invoiced Asianic Limited €162,420, allegedly for processing the consignment.
The payment, Singh said, was made to a Stanbic Bank account held in the name of Mosota Abunga & Associates Advocates LLP.
On the same day, Singh testified that another invoice of €548,830 was issued and paid to the same account, allegedly to cover taxes.
When they questioned why taxes were being paid again, despite the earlier USD 400,000 allegedly covering tax obligations, they were informed that the taxes were now secured by the 31 kilograms of gold collateral.
Gold Packed for Travel, Then Stopped
Singh further testified that on February 7, 2024, Asianic Limited was invoiced an additional €14,112 for freight charges, which was also paid.
He told the court that the 31 kilograms of gold had been stored at MySafe and was later collected ahead of their scheduled departure on February 9, 2024.
The gold was taken to Daniel’s office, where it was divided into two consignments, packed in blue metallic boxes, sealed, stamped, and signed.
“I took photos and videos of the boxes and the documents,” Singh told the court.
The businessmen proceeded to the airport, where they were to wait for Daniel and Frank in the lounge before boarding their flight to Italy with the gold as hand luggage.
Excuses, Penalties and More Payments
Singh testified that while waiting at the airport lounge, they were informed that there was a problem with one of the documents, specifically relating to the quantity of gold indicated.
Although he hesitated to board the flight, Frank allegedly advised them to travel, saying the issue could not be resolved immediately.
Later, Singh told the court, they were informed that a 20 percent penalty had been imposed on the consignment, valued at USD 1,562,000, and that failure to pay would result in confiscation of the gold.
He testified that Alain began pressuring him to help resolve the matter.
Eventually, Singh and his colleagues flew back to Kenya on February 20, 2024, and later paid about USD 1.5 million.
Gold Never Delivered
Singh told the court that despite the payments, the gold consignment was never delivered.
Between February and June 20, 2024, he said they received repeated excuses and further attempts were allegedly made to extract more money.
Growing suspicious, Singh reported the matter to the Directorate of Criminal Investigations, where he recorded a statement.
The report led to the arrest of Daniel, Alain and Frank, who are now facing trial.
The hearing continues.
