Businessman Charged With Defrauding Forex Bureau of Sh 4.2M in Fake Cheque Scam

A businessman has been charged with defrauding Muthaiga ABC Forex Bureau over Sh 4.2 million.

Mohamed Sumeer is accused of obtaining USD 2,500 (Apprx Sh 326,250)from the bureau by falsely pretending that he was issuing genuine cheque in Kenyan currency equivalent to the said US dollars, a fact he knew to be false.

Sumeer is alleged to have committed the offense on 1st March 2025 at Muthaiga ABC Forex within Westlands, Nairobi, with intent to defraud.

The accused is also charged with obtaining USD 30,000 (Apprx Sh 3,915,000) from the said bureau by falsely pretending that in exchange, he was issuing genuine cheque in Kenyan currency equivalent to the said US dollars.

This offense was allegedly committed on 3rd March 2025 at Muthaiga ABC Forex.

Sumeer faces five other charges of issuing bad cheques in favor of Muthaiga ABC Forex Bureau.

The accused is accused of issuing the said cheques on the DTB bank account knowing the said account had insufficient funds.

He denied the charges before Senior Principal Magistrate Dolphina Alego.

The accused person told the court that he had entered into an agreement with the bureau on how to repay the said money in installments.

The court heard that he had already paid the first installment of Sh 500,000 and was only arrested after a delay in paying the second installment which was as a result of his mother falling sick.

Sumeer was granted a bond of Sh 2 million with alternative cash bail of Sh 500,000 and two contact persons.