Kenyans cautioned against investing in BTC company promising 400% returns in six hours – Bitcoin News Settlement

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A Kenyan regulator, the Capital Markets Authority (CMA), has warned investors and Kenyan citizens against investing with Fxbitinvest, a bitcoin trading company. The warning was issued after the regulator noted Fxbitinvest’s use of inflated return on investment promises to attract unsuspecting Kenyans.

Unrealistic promises

According to a CMA press release issued on August 12, Fxbitinvest offers potential investors a return on investment (ROI) of 400% within six hours. In addition, the regulator also identifies “invoice numbers” which are used by the individuals behind Fxbitinvest to raise funds from Kenyans.

The AMC appoints the persons associated with the company either in their capacity as employees or as owners. Those identified and their pseudonyms on social media are Hassan Juma and Godfrey Koome, both based in Kenya. The third individual, who is said to be based in North America, has only been identified as an anonymous director.

Aggrieved investors urged to hire police

In addition to advising Kenyans against depositing funds with the bitcoin trading company, the CMA said investors defrauded by Fxbitinvest should contact Kenyan police. The AMC statement explains:

Any investor who has been the victim of fraud due to an investment in the company is encouraged to report to the nearest police station with their national identity card, deposit slip or Mpesa declaration, any contract entered into. and other documents in support of the claim.

Alternatively, the regulator said aggrieved investors can file a complaint directly through the online complaints portal or by visiting the offices of the CMA.

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