In a report by People Daily, Ali approached the investors, among them from Kenyans, Somalis and others living abroad. Like in any other fraud scheme, Ali promised the investors of multiplying their money through the forex trade with a promise of high returns at rates their businesses in Eastleigh or other parts of the world could not deliver.
To invest with the company, one had to part with at least KSh 2 million as the initial capital with a promise of huge returns. With a mouth-watering deal at hand, investors including 20 MPs from Somalia and other senior government officials sent money to Ali's 13 accounts of which 10 of them were run by his staff.
When money landed in any of the 10 accounts, they were immediately transferred to Ali's three accounts. The masterminds started off paying monthly interest rates of between 10 and 15 per cent. This means that someone who invested KSh 1, 000,000 would earn at least KSh 100, 000 a month from their investment. Someone investing KSh 10 million would earn at least KSh 1, 000,000 a month in interest.
The first investors received there money as by the agreement, these investors went around recruiting more disciples for Ali before he would disappear with the money. One Sheikh Abdulla Kulow who is now staring at a possible loss of close to KSh 200 million said at first the returns were high as promised and this convinced him to sell his three houses in South C estate and pump the money into the get-rich-quick scheme.
3 houses ffs
theres a special place in hell for these type of ppl
