Hundreds of victims of the Springmark Investment scam, who allegedly lost over Sh2.4 billion to online trader, flocked to Eldoret Central Police Station on Tuesday to record their statements as detectives continue their investigation.
The victims, who had protested on Monday accusing the police of indifference in the prosecution of the case, marched to the county commander’s office to demand answers on why the police had yet to apprehend the suspect despite the complaints filed by those affected by the fraudulent scheme.
William Getumbe, an artist who lost Sh1 million to the scheme, told the media that the victims will hold protests every Monday to pressure police to expedite the arrest of the online trader.
“We will continue to pile pressure on the police to ensure they arrest and arraign the suspect in court so that we can get our money back,” he stated.
Getumbe claimed that the suspect, Ambrose Makech Abuti, frequented social venues in Eldoret, enticing people to join the scheme, which promised a monthly interest rate of 18 per cent with the option to withdraw funds after six months. This promise of high returns led many people, including bishops and their congregations, to borrow money and invest in the failed online company.
The company quickly collapsed after enticing investors with the promise of substantial returns, and the mastermind behind the scheme disappeared, leaving his clients in financial distress.
The Eldoret-based trader, who ran Springmark Investment, is said to have deceived investors into believing he could rapidly grow their money before going underground.
Police stated that the suspect operated the pyramid scheme from offices in Meadows Building within Eldoret’s central business district before vanishing in 2023.
A senior officer, who requested anonymity, mentioned that over 100 victims have already recorded statements.
“More people are still coming in to record their statements, which is why we have organized them into groups of 20 to expedite the process,” the officer said.
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Among the victims are university lecturers, lawyers, gospel artists, teachers, and clerics from various denominations. Some interviewed church members revealed that the suspect was a committed member of their Praise and Worship team, where he played guitar.
However, a pastor from the church where he had been attending distanced himself from the suspect.
“The investor, who was a guitarist in one of the local churches in Eldoret, appeared to be a gentleman full of compassion, but we were unaware that he was swindling people out of their money,” said a trader from the site where the firm closed three months ago due to unpaid rent.
One victim recounted how their bishop had lured church members into investing Sh100 million in the online company with promises of high returns.
After recording her statement, a victim revealed that their bishop had introduced Makech to the congregation during a morning service earlier this year.
“We trusted our bishop and allowed him to invest our church funds in the online trading company, hoping for significant profits after six months,” she said.
In response to allegations of police indifference, Uasin Gishu Police Commander Benjamin Mwanthi defended his team, stating that victims should have done their due diligence before investing.
“Do not invest in something you know nothing about. If a deal sounds too good to be true, it probably is,” Mwanthi advised.
He assured the victims that the police were actively pursuing the fugitive trader, noting that it was only a matter of time before he would be apprehended.
“It is not true that the police are doing nothing. We are on top of the situation, and results will soon be evident,” Mwanthi assured.
– By Ann Precious Kinyua
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