Court Issues Search Warrants For Key Suspects In Sh500 Million Scamming Case Against American Investor

A dramatic international fraud investigation has taken a decisive turn after the Milimani Chief Magistrate’s Court granted sweeping search warrants targeting 15 individuals and multiple companies accused of orchestrating an elaborate Sh500 million loan scam that left an American investor counting his losses.

The court orders, issued on October 30, allow detectives from the Economic and Commercial Crimes Unit to raid several prime office locations across Nairobi, including Flamingo Towers in Upper Hill, Silver Stone Building in Kilimani, Uhuru Highway Mall in Nairobi West, and the prestigious PWC Building in Westlands .

The investigation has already seen some suspects face charges at the Kahawa Law Courts, with the most recent being lawyer Stephen Juma Ndeda, who appeared before Kahawa Law Courts a while ago facing multiple counts including conspiracy to defraud, money laundering, and participation in organised crime.

Lawyer Stephen Juma Ndeda

The case began when American businessman Blake Charles Stringer, a director of Nutra-Acres LLC in Texas, reported he had been defrauded while seeking a USD 500 million loan to finance agricultural projects across Africa.

What started as a promising business opportunity quickly descended into what investigators now describe as a sophisticated international fraud scheme.

According to court documents, Stringer was introduced through a U.S.-based broker to Affluent Wealth Management, a Kenyan firm that claimed it could arrange the massive loan for his agricultural ventures.

After several online discussions, the Texas businessman travelled to Nairobi, where he met company representatives who painted an enticing picture of financing possibilities.

But there was a catch.

Investigators say Stringer was told he needed to obtain a life insurance policy through Toureg Insurance Agency to qualify for the loan.

He was allegedly introduced to a man claiming to be the agency’s CEO and a representative of a Swedish insurer called Continental Insurance.

What followed was a systematic siphoning of funds that would make any investor’s blood run cold. Between June 2024 and January 2025, Stringer made payments totalling Sh98.7 million to accounts linked to the suspects and companies now under investigation, according to bank documents submitted to court.

The money, investigators allege, was quickly withdrawn or moved through RTGS transfers to firms including Urufle Trading Company and Fatimark Energy Ltd.

Some cash was withdrawn directly by individuals named in the case.

Stringer also paid Sh7.3 million to Ndeda and Company Advocates as legal fees and sent Sh647,500 to one suspect for what he was told was the registration of a new company, Nutra Acres Africa Ltd.

The promised loan never materialised.

The warrants name an extensive list of suspects including lawyer Stephen Juma Ndeda, Michael Omondi Okongo, David Onyango Ochanda, Luke Onyango, Abdifatah Adan Kalicha, Abel Onyango Noah, Abdullahi Bare, Joseph Verde, Oloo Collins Juma, Kenedy Oyoo Mboya, Susan Kilonzo Wambua, Stephen Roy Onyango, Judith Akinyi Riaga, and Collins Juma Aloo.

Companies under the microscope include Toureg Insurance Agency, Albeirut Wael Enterprises, Urufle Trading Company Ltd, Fatimark Energy Ltd, and Affluent Wealth Managers.

Corporal Brian Musau of the ECCU told the court that early findings suggest crucial digital and physical evidence is stored in the premises targeted by the search warrants. Detectives are authorised to seize documents, computers, servers, mobile phones, electronic storage devices, and any other items that may hold useful information for forensic analysis.

According to court documents, Ndeda allegedly conspired with others to defraud Nutra-Acres LLC by falsely claiming they could facilitate the multi-billion shilling loan.

He faces charges of conspiracy to defraud, obtaining money by false pretences, money laundering, and participation in organised criminal activities.

His co-accused, David Onyango Ochanda, Luke Ouma Onyango, and Toureg Insurance Agency Limited, were charged last week and pleaded not guilty to similar counts, with each granted a bond of Sh2 million or cash bail of Sh1 million .

The charges span multiple laws including the Penal Code, the Proceeds of Crime and Anti-Money Laundering Act, the Prevention of Organised Crimes Act, and the Computer Misuse and Cybercrimes Act. If convicted, the suspects could face lengthy prison sentences.

The case is scheduled for mention on December 8, 2025, when the court will consider bail review requests and issue further directions .

The elaborate scheme has raised fresh concerns about Kenya’s reputation as a destination for international investment, coming on the heels of several high-profile fraud cases that have targeted foreign investors seeking business opportunities in the country.

For Stringer, the dream of financing African agricultural projects has turned into a costly nightmare, with nearly Sh100 million gone and nothing to show for it but a mountain of legal proceedings and broken promises.

As detectives comb through the evidence they hope to recover from the search warrants, the American investor can only wait and hope that justice will be served and some of his money recovered.

The investigation continues.