Stephen Nyandiare Linked to Disputed Gold Transaction After Partial Refund
An upcoming Kisumu senatorial aspirant, Stephen Ochieng Nyandiare, has been linked to a disputed international gold transaction that resulted in a partial refund of USD 16,000 to an American investor earlier this year.
According to documents reviewed by this publication, Nyandiare introduced Texas-based businessman Kelly Radnitzer to Olivier Omatuku, a Congolese national who reportedly claimed access to up to 200 kilograms of gold for sale.
The deal later collapsed, leading to months of dispute and eventual partial reimbursement.
The Structure of the Deal
Records indicate that Nyandiare had registered Zumr Africa Ltd on May 24, 2023, listing its address at Marsabit Plaza along Ngong Road in Nairobi.
Zumr Africa was designated in a contract dated May 13, 2024, as the transaction handler and escrow agent between:
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Seller: Olivier Omatuku
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Buyer: Essilux Trading, a Dubai-based precious minerals company
The agreement provided for the sale of 200 kilograms of gold at a reported price of USD 40,000 per kilogram.
Under the contract terms, an initial shipment of up to five kilograms was to be sent to Dubai for refining and quality verification before full payment.
Nyandiare signed the contract on behalf of Zumr Africa, while Basselio Awad signed for Essilux Trading.
Invoices and Payments
On the same day the contract was executed, Zumr Africa reportedly issued an invoice of USD 24,000 to HD Global Services Limited, a company associated with Radnitzer, citing tax-related expenses.
Subsequently:
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Oasis Aviation, described as an aircraft charter company operating from Wilson Airport, issued an invoice of USD 128,750 on August 16, 2024, for transport services.
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Mo Law Advocates issued a separate invoice requesting USD 2,000 for legal services linked to the transaction.
However, public records at the time reportedly did not clearly reflect Oasis Aviation as a licensed aircraft carrier, raising questions later during the dispute.
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Shipment Delays and Dispute
Radnitzer reportedly traveled to Dubai expecting delivery of the gold consignment. The shipment did not materialize.
After several months without delivery, he began demanding a refund.
On February 8, USD 16,000 was refunded through Dexis Investments Holdings Limited. The refund was facilitated following communication between Radnitzer and Nyandiare’s legal representatives.
In correspondence, Nyandiare’s lawyers emphasized his professional standing and reputation.
“Our client is a man of means and intellect who is respected internationally for his professional record,” the lawyers wrote.
They added that Nyandiare considered some of the communications from Radnitzer improper and damaging to his reputation.
Political Context
Nyandiare has publicly declared his intention to vie for the Kisumu Senatorial seat in 2027.
The gold transaction dispute has not resulted in any known criminal charges against him at the time of publication.
The matter appears to remain a commercial dispute between private parties.
Key Questions Raised
The case highlights several broader issues frequently associated with international gold transactions, including:
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Verification of supplier credentials
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Use of escrow arrangements
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Due diligence on logistics providers
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Contract enforcement across jurisdictions
Gold trade transactions involving multiple jurisdictions often require extensive compliance verification and government approvals.
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