Court Finds Shooble Energy Director Guilty Of Defrauding Kenyan Investors Sh23.5 Million

Shooble Energy Limited director Mohamed Mohamud Hussein  has been found guilty of defrauding three investors Sh 23.5 million.

Principal Magistrate Rose Ndombi rules that the prosecution had proved the case against Hussein beyond reasonable doubt.

Hussein was charged in December 2023 alongside Shooble Energy and his Co-director Abdifatah Ali Hussein who was discharged.

The three were accused of conspiracy to defraud and obtaining the said money through cheating.

According to the charge sheet, the accused persons used fraudulent tricks to obtain Sh 15.5 million from Khalid Mohammed Jamal  between 7th July 2020 and February 2021 in Nairobi, jointly with others not before court.

In addition, the court heard that the directors used fraudulent tricks to obtain Sh 4 million from Noor Ahmed Sheikh between 13th July 2021 and 12th February 2022 in Nairobi.

Lastly, the accused persons were charged with obtaining another Sh 4 million from Ahmed Mohamed Dahir between July 2021 and February 2022.

According to the witnesses, Hussein convinced them to invest the money in his company promising monthly returns of 2.5 percent of the invested amount.

Upon investing the money, an agreement was signed between the parties with Hussein signing on behalf of Shooble Energy.

However, as time went by, Hussein did not remit the returns to the suspects and eventually stopped picking their calls.

In her judgement, the magistrate found that Hussein never explained what happened to the money invested thus the prosecution proving the offense of cheating.

The magistrate ruled that the prosecution had proved its case beyond reasonable doubt as it was proven that Hussein engaged in a fraudulent investment scheme.

“The prosecution has proven the said offenses beyond reasonable doubt, I therefore find the accused person guilty as charged,” the magistrate ruled.

The case will be mentioned on 21st May for sentencing.