A director of Forex Training and Consultancy Limited was on Friday charged in a Nairobi court with obtaining over Sh 58 million from various members of public by false pretenses.

Emmanuel Mulinge Maundu alias Emmanuel Wambua Maundu who appeared before Principal Magistrate Martha Nanzushi pleaded not guilty to the 68 counts of fraud.

Prosecution alleges that on diverse dates between May 2019  and August 2019 at View Park Towers in Nairobi, the accused jointly with others not before court, being a director of Forex Training and Consultancy Limited with intend to defraud obtained money ranging from Sh500,000 to Sh2 million from various members of public by falsely pretending he was in position to be giving  them a monthly interest of 30 percent of the money given to him.

The magistrate ordered him to be remand in custody until next Tuesday to await probation report before releasing him on bond.

However, prosecution informed the court that they will be opposing bail application by the defence, saying the accused is still wanted in other fraud cases before various courts. 

 But the accused told the court he has already started negotiating with the complainants in the case.