A team of detectives from the Operation Support Unit (OSU) arrested Tim Orao Shikalo on Sunday, a key suspect long sought in connection with a sophisticated gold scam defrauding a foreign investor of USD 265,200 (approximately Sh38 million).
Shikalo’s arrest marks a major breakthrough following the earlier apprehension of Steve Okoth Odek (alias David Bett) on December 7, 2024, who was also charged in the same fraudulent scheme.
The scam involved fake gold purchase contracts totaling over 1,080 kilograms, with false assurances of secure delivery, guaranteed collateral, and bogus legal facilitation. Investigations revealed that the purported gold was actually a blend of copper, zinc, and tin with no precious metals present.
Shikalo is currently in police custody and undergoing processing ahead of his arraignment.
Detectives are closing in on two additional suspects believed to be part of this criminal syndicate.
The victim had entered into two separate gold purchase agreements with the scammer: one for 500 kilograms on February 6, 2024, and another for 580 kilograms on March 14, 2024, each kilogram priced at USD 40,000.
After the first deal fell through, the scammer promised to deliver the gold only after certain conditions were met, including the buyer covering jet charter costs, taxes, and insurance.
Police have intensified operations against gold scammers, arresting dozens of suspects, with many cases currently pending in courts.
