- CMA has flagged 15 entities over alleged illegal investment schemes.
- DCI, CMA and other agencies are investigating the entities.
- Investors have been urged to verify licences before investing.
The Capital Markets Authority (CMA) has issued a fresh warning against 15 entities it says are unlawfully soliciting money from the public without the required licences or approvals.
The regulator said the entities are accused of operating unlawful and fraudulent investment schemes and urged Kenyans to avoid placing their money with them.
The entities named by CMA are Global Investment Group (GIG), QVSE, Kore Exchange, Abacus Wealth Management, Brown Advisory Group, B Invest, Bitblock Capital Limited, Maliwave Investments, Monetrix Capital Investments, Twenty four Hours Pro Expert Trader, Wealth Sharing Group (Opticoin), CBEX, Just Markets, Ultima Cryptocurrency and Lukman Trust Fund.
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According to the Authority, the entities are currently under investigation by the Directorate of Criminal Investigations (DCI) in collaboration with CMA and other law enforcement agencies.
CMA’s warning comes as investment fraud increasingly moves online, with schemes often using social media and digital platforms to attract members of the public with promises of quick or unusually high returns.
The regulator has repeatedly advised investors to verify whether an entity is licensed before committing funds. CMA maintains a public list of licensed and approved capital markets intermediaries through its regulatory framework.
By Khayoyo Ian
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