Jared Otieno to remain in custody over Ksh.300M gold scam

Jared Otieno

Controversial tycoon Jared Otieno will now remain in custody for seven days to allow investigations into the Ksh.300 million gold scam.

In the ruling on Friday, Senior Resident Magistrate Paul Mayova said that there were reasonable grounds raised by the investigator through the Prosecution to detain him.

Jared, who was arraigned at the Milimani Law Courts, was charged with obtaining money by false pretences and will be detained at Kileleshwa police station.

According to Jared’s lawyer,, Stanley Kangai, the matter in court involves a loan between the complainant and other people arguing that his client was nothing but a sacrificial lamb.

The case will be mentioned on May 24, 2019.

On Thursday, the flamboyant businessman was arrested after he surrendered to the Directorate of Criminal Investigations (DCI).

His arrest has allegedly caused panic across the gold scam network in the country.

Otieno is linked to the seizure of fake gold nabbed on Monday in Kileleshwa.

Detectives probing the matter said the businessman was identified on CCTV footage that was confiscated from the scene.

Two of his high end cars were also seized in the operation.

Those arrested from the Kileleshwa house to remain in custody for seven days.

Otieno has been in and out of court over fraud cases alleged to involve hundreds of millions of shillings.

Previously, a Venezuelan man accused him of defrauding him of Ksh.300 million in a fake land deal.

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