A Nairobi court has allowed the Directorate of Criminal Investigations to detain Dickson Ndege Nyakango for seven days as investigators probe an alleged Sh33.6 million online investment fraud built around fake AI-powered trading apps listed on Google Play Store and Apple App Store. Nyakango was arrested on May 4 at I&M Bank Ltdβs Kenyatta Avenue branch while trying to withdraw money from an account linked to the scheme.
Investigators told Milimani magistrate court that he developed two apps, KCLNL and GSIWEA, which posed as credible investment platforms and falsely suggested links to licensed stockbroker Kestrel Capital (EA) Ltd and Nathaniel Capital Partners Ltd.
The scheme allegedly promised automated trading returns of up to 7% daily and directed investors into a WhatsApp group called Kestrel & NATL Quantitative Trading Lab, where they were told to deposit funds through Paybill numbers or Pesalink into specified bank accounts. Between April 8 and 29, 2026, the accounts received Sh33.6 million from unsuspecting investors.
Investigators said the same account also appeared in a separate complaint involving a suspicious entity named Genghis Strategy, which seemed to impersonate Genghis Capital Ltd. DCI officer Achilles Omondi said the matter involved βthe complexity of the matter, the large number of victims, and multiple accounts,β with evidence pointing to several bank accounts and M-Pesa numbers used to move funds and obscure the money trail.
