Local Church and Forex Trading Platform Scam Investors with Unrealistic Returns

A company called Springmark Investments Company was recently condemned by Kenyan investors. The company allegedly defrauded hundreds of forex investors, causing them millions of shillings in losses.

Notably, Springmark seems to be inextricably linked to local churches as many of the victims knew about the company through the churches.

Ambrose Makech Abuti lured many worshippers to trade in forex investments with Springmark and also promised them lucrative profits of 18% per month.

The victim, Susan Waititu, initially invested Shs240,000 in Springmark and topped up several times in subsequent months. Not only herself, her brother also invested 1.2 million shillings in the platform.

"We were many, a total of about 5.7 million," she said.

William Getumbe is a worshipper and a victim of Springmark. He strongly condemned the church leadership for allowing Ambrose to deceive church members.

According to Getumbe, after the pastor spoke briefly, Ambrose introduced this so-called trading platform. The pastor added that if people did not invest in this platform, they were not supporting the church.

He also found out that Ambrose was not the only person who persuaded residents to engage in forex investment as his family was duped by another similar company.

These fraudulent companies left local residents suffering, not only losing their savings, but also under pressure to repay their loans.

In addition to this, victims such as Susan and Getumbe have complained about the law enforcement agencies as every time the suspects were arrested, they would be released.