David Onyango Ochanda now stands at the centre of a high-profile fraud case. He is charged with masterminding a multimillion-shilling scheme that allegedly defrauded an American investor of an astounding Ksh. 223 million in a fraudulent gold transaction.
Thank you for reading this post, don't forget to subscribe!The case, which has already drawn attention from both domestic and foreign audiences, raises grave concerns regarding Kenya’s growing gold-related scam epidemic.
Ochanda was dramatically arraigned before Magistrate Dolphina Alego after having previously presented himself as a businessman with lucrative gold connections. He denied two major charges—conspiracy to defraud and obtaining money through pretences—in front of the court’s harsh scrutiny.
Ochanda allegedly collaborated with those already on trial to carry out a meticulously planned scheme between March 31 and May 30, 2024, according to court documents. The intended victim? Tanner Caldwell Cook, an American, thought he was getting into a real business transaction.
The charge sheet presents a broad picture of deceit. Ochanda allegedly enticed Cook with the prospect of a profitable gold purchase, according to the prosecution. According to reports, he persuaded the foreign investor that he had 2,820 kilograms of gold that were ready for export.
The cost? A staggering USD 1,271,200, or roughly Ksh. 223.7 million, which Cook allegedly paid in good faith. The bait? The gold had never been there. Investigators contend that Ochanda and his colleagues were aware from the start that the allegations were false.
Even though the charges were serious, Ochanda, via his attorney, begged the court to be lenient and asked to be released on bond or cash bail. The fact that other suspects in similar cases had already obtained comparable terms served as the foundation for his plea.
Remarkably, the prosecution did not object to the application. According to their confirmation, co-accused individuals had previously been freed on Ksh 400,000 cash bail or Ksh 1 million bond. Magistrate Alego gave Ochanda the same conditions in accordance with this precedent, temporarily releasing him pending trial.
The accusations against David Onyango Ochanda highlight the shadowy underworld of gold trading in Kenya—a sector often tainted by scams targeting unsuspecting foreign investors. Nairobi has long been regarded as a centre for legitimate trade as well as a haven for high-stakes fraud.
In addition to drawing attention to Ochanda, this case poses serious concerns regarding regulatory gaps, the safety of foreign investors, and the legitimacy of Kenya’s gold market.
