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Two gold suspects who allegedly defrauded a foreigner over Sh100 million have been released on Sh500,000 cash bail pending conclusion of investigation by the police.

Nicholas Ndolo and Thomas Ngoe were arraigned before Kibera Senior Principal Magistrate Charles Mwaniki where detectives from Directorate of Criminal Investigation sought custodial orders of five days against them.

Magistrate, however, declined DCI’s request and released them on a cash bail, saying no compelling reason had been adduced to detain the two. The suspects were arrested after allegedly defrauding a foreigner Sh129,000 in a fake gold deal.

Court heard that the foreigner was introduced to Ndolo as a businessman dealing in gold business, agreed to purchase 3,000kg of gold at Sh5 million Per kg totaling to Sh16 million. Ndolo provided an Equity Bank account to the foreigner where money would be wired.

The foreigner instructed his bank in US to wire the sum of Sh130 million February 10 by way of a swift bank transfer into the said account.

Ndolo confirmed to have received the money and said he would contact the foreigner to witness the packaging of the gold in readiness for shipment to Dubai. Complainant, however, waited in vain for an appointment to witness the packaging which then prompted him to request for documentations in regard to the purchase of the said gold.

“Complainant later realised that some of the documents such as the customs entry indicated on the declaration form dated March 8 was not genuine,” DCI officer Alexander Makoma said.

Case will be mentioned on April 3.