Home ECONOMY Unsuspecting Kenyans are losing millions

Unsuspecting Kenyans are losing millions

by biasharadigest

Wash Wash Money in Kenya: Many Kenyans have lost millions of money after falling prey to a scam that promises to multiply money. Most of these Kenyans have been made to believe that they could have millions of fake money turned into real money.

So huge is this cartel of fake money that an estimated 20 members of parliament are currently minting millions from the fake currency syndicate.

“A private investigator, Steve Odero, told us how an employee of a parastatal was holding onto a consignment of fake notes he had been made to believe was worth $2 billion.The man has been stuck with the consignment in a house for the last eight months. He has been conned by an MP from Rift Valley who is always coming back for more money to erase a UN stamp on the dollar notes. He has so far spent about Sh. 46 million in paying for ‘special chemicals’ which he rendered impotent by failing to follow some ridiculous conditions,” the Standard newspaper reported recently.

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The paper further reported that in some instances, the unsuspecting Kenyans are told to ensure they do not shake while carrying the containers, and to be careful not to expose them to daylight.When the chemicals prove to be ineffective while they are mixed, the victims are blamed for breaching the rules and told to cough up more money to get fresh supplies.

“At one point, the parastatal boss was told that a technician who was coming to “wash” his consignment had just arrived from the US, but had a sudden epileptic fit and dropped the containers with the chemicals.The racketeers then used an ambulance to ‘rush’ the technician to hospital. After recovery, the technician had to be given more money so that he could bring fresh chemicals as the supply he had dropped was now useless,” the newspaper reported.

According to www.quora.com, an SSD solution chemical is a special type of homogeneous mixture composed of two or more substances, which is mostly used for an extraction process. According to the website, the price for a litre of US standard “A” grade SSD solution chemical is approximately $15,000 (Sh. 1.5 million) and can clean up to 4,000 pieces of $100 notes or $400,000 (Sh. 40 million). In Kenya’s black market, the racketeers tell their victims that a cylinder of SSD chemical costs about Sh. 2.5 million. Once the victim produces the amount, the cons will just go to a store and buy a three-kilo fire extinguisher cylinder, which ordinarily costs Sh. 3,000.

The Standard further says: “Investigations show that once they buy the fire extinguisher, they then erase its inscriptions and paste stickers to present them as SSD solution chemical. For effect, there is even a picture of a machine cleaning money on the sticker and instructions on how this valuable substance is supposed to be applied.So, to clean a consignment of $600 million (Sh. 60 billion), the racketeers tell their victim to purchase 10 cylinders of the disguised fire extinguisher at a cost of Sh. 25 million.

The newspaper also reports that there are printers in Luthuli, Khoja and Kirinyaga roads, whose specialty is bulk printing of counterfeit currency.

“The cartel uses rented houses to print the money. The houses are equipped with the printers, and have supplies of vitamin C, iodine liquid, paper cutting machines and rims of white papers. Some of the deals are done in five-star hotels. The unsuspecting prey is told how his money will multiply within a short period of time and given samples to go and change in a forex bureau of his choice or within the bank, after making a small payment,” the paper says.

It also reports that the cartels charge Sh. 60,000 to make counterfeits of Sh. 20 million, while printing fake $100 million attracts a fee of between Sh. 500,000 and Sh. 1 million. “A few weeks ago, a woman lost Sh. 15 million after she was lured into the trade by con men who baited her with Sh. 1 million they had allegedly washed for her. The woman who declined to be named, says she had to sell her lorry and take a bank loan to raise the Sh. 15 million demanded by the cons,” says the newspaper. Wash Wash Money in Kenya.

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