Youth Business Leader Charged in Sh38 Million Gold Fraud Scheme

Nairobi, Kenya – The founder of Youth in Business Africa has been charged with defrauding an Asian company of over Sh38 million in an elaborate fake gold scheme that investigators say involved fraudulent documentation and promises of legitimate precious metal sales.

Tim Orao Shikalo, who also goes by the alias Vincent Oloa Wanton, appeared before Senior Principal Magistrate Ben-Mark Ekhubi on charges of obtaining USD 265,200 (approximately Sh38,188,800) from Asianic Limited by falsely claiming he could supply 580 kilograms of gold.

According to court documents, Shikalo allegedly committed the offense between February 1 and August 2, 2024, in Nairobi.

The charges indicate that the accused knew his claims about having access to the gold were false when he made them to the Asian company.

The case represents what authorities believe is part of a larger criminal network operating sophisticated gold fraud schemes in Kenya.

Investigators say the scam involved over 1,080 kilograms of supposed gold, but victims received “a worthless mix of copper, zinc, and tin—a classic bait-and-switch operation dressed up with fraudulent paperwork and promises of smooth customs clearance and legal facilitation.”

Shikalo faces two counts: obtaining money by false pretenses and conspiracy to defraud. In the conspiracy charge, he is alleged to have worked with another individual who is already before the court, suggesting this was an organized effort rather than a solo operation.

The charges cast a shadow over Youth in Business Africa, an organization that positions itself as a trade support institution working to promote commercial interests.

According to his LinkedIn profile, Shikalo serves as a director at Youth in Business Africa and has connections to other business ventures including Cleanen Ltd.

The organization’s stated mission of supporting young entrepreneurs now stands in stark contrast to the serious fraud allegations facing its founder.

The case highlights growing concerns about financial crimes targeting international investors interested in Kenya’s gold trade.

Shikalo denied the charges when they were read before him in court.

The magistrate granted him bail under specific conditions: a bond of Sh3 million with one surety of a similar amount, or alternatively, a cash bail of Sh800,000 with one contact person to secure his release.

The relatively high bail amount reflects the serious nature of the charges and the substantial sum allegedly defrauded from the Asian company.

Criminal Network

This arrest follows the earlier capture of Steve Okoth Odek, alias David Bett, who was nabbed in December 2024 and charged in court for his involvement in the same scheme, indicating that authorities are pursuing multiple suspects in what they believe is a well-organized criminal network.

The case underscores the challenges facing Kenya’s efforts to attract legitimate foreign investment, particularly in the minerals sector, where fraudulent schemes can damage the country’s reputation and deter genuine business partnerships.