American Investor Loses Sh29M In A Bogus Bureau Deal With Taaj Money Transfer Insider In Kenya

Rahma Abdullahi Adam, a Kenyan-born Somali woman now living in the USA, has come forward with allegations of being defrauded of KSh 29 million (approximately USD 213,000) by a former agent of Taaj Money Transfer in the Eastleigh area of Nairobi.

Abdullahi Abdi Hussein, once a senior manager at Taaj Money Transfer, is accused by Adam of orchestrating a scheme under the guise of helping her set up a new branch of the money transfer service. Adam, who holds dual citizenship in Kenya and the United States, was approached by Hussein in May 2024 with an enticing business proposal. He convinced her to invest USD 100,000 in what he claimed would be a lucrative stake in a new Taaj branch.

Driven by the ambition to invest in real estate back home and provide a better future for her family, Adam transferred the funds to Taaj Money Transfer through an agent in Minneapolis. Hussein confirmed the receipt of the money, further solidifying her trust.

However, the situation turned sour when, in October 2024, Adam was persuaded by Hussein to invest an additional USD 113,000 into what was described as a real estate opportunity. By the end of November, when she sought updates on her investments, Hussein responded with excuses about personal issues, including the illness of his mother, without providing any concrete evidence of business progress.

Feeling misled, Adam demanded the return of her investment. Although Hussein initially agreed to refund the money, he later claimed it was lost within Taaj’s system. This led Adam to file a formal complaint at Kilimani Police Station, resulting in Hussein’s arrest and subsequent appearance at Kibera Law Courts on January 6, 2025. He was released on a cash bail of KSh 100,000 with a plea scheduled for February 5, 2025.

Adam has expressed frustration over what she perceives as a lack of resolution, especially after attempts to mediate through community elders were met with what she describes as mockery from Hussein, who allegedly boasted that the case would not succeed in Kenya’s criminal justice system.

The incident has raised questions about oversight in money transfer operations and the vulnerabilities that expatriates, other nationals and investors might face. Taaj Money Transfer, known for facilitating remittances globally, has yet to comment on the allegations or the involvement of its former employee.