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Kenyans warn against investing in BTC, promising a 400% return in six hours

Kenya’s regulatory authority, the Capital Markets Authority (CMA), has warned Kenyan investors and citizens not to invest in Fxbitinvest, a bitcoin trading company. The warning was issued after the regulator noted that Fxbitinvest was using its ex-investment promises to lure unsuspecting Kenyans.

Unrealistic promises

According to a CMA statement Launched on August 12, Fxbitinvest offers prospective investors a return on investment (ROI) of 400% in six hours. In addition, the regulator identifies the “payment accounts” used by those behind Fxbitinvest to raise funds from Kenya.

The CMA designates individuals associated with the company as employees or owners. The identified individuals and their social media administrators are Hassan Juma and Godfrey Koome, both based in Kenya. The third person, allegedly in North America, was only identified as an anonymous director.

Offended investors asked the police

In addition to the CMA advising Kenyans not to deposit money with the bitcoin trading company, investors misled by FXbitinvest should contact the Kenyan police. The CMA statement stated:

Any investor who has been misled as a result of investing in the company is encouraged to report it to the nearest police with their ID, deposit slip or Mpesa statement, any contracts entered into and other documents that support the claim.

The regulator also said that aggrieved investors could file a direct complaint through the online complaint portal or the CMA offices.

What do you think about this story? Share your thoughts in the comment section below.

Image loans: Shutterstock, Pixabay, Wiki Commons

Legal warning: This article is for informational purposes only. It is not a direct offer or request to buy or sell, or to recommend or endorse any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the Company nor the author will be responsible, directly or indirectly, for any damage or loss caused or allegedly caused by the use of or reliance on the content, goods or services referred to in this article. .

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

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