By Reporter.

A forex bureau owner has been charged with defrauding an investor of over Sh 32 million for gold meant to be delivered to Dubai.

Mohamed Noor, whose bureau is based at Luthuli Avenue appeared before Milimani Senior Resident Magistrate Irene Thamara and denied the charges.

The businessman is accused of obtaining USD 250,500 (Apprx. Sh 32,314,500) from John Sadipo of Sadipo Law Group.

It is alleged that he pretended that he was in a position to smelt and ship 495 Kgs of gold from Kenya to Dubai, a fact he knew to be false.

Noor is alleged to have committed the offense between 1st January and 3rd February 2026, in Nairobi, jointly with others who have already been charged while others still at large.

The accused person is also charged with the offence of money laundering and possession of proceeds of crime.

The prosecution alleged that on 17th February 2026, Noor entered into an agreement to pay SRK Logistics a sum of USD 217,900 knowing the money to be proceeds of crime, as settlement debt owed by Mohazcom Trading.

He was released a bond of Sh 1 million with alternative cash bail of Sh 350,000.

The case will be mentioned on 2nd March 2026 for pre-trial.

Prosecution intend to consolidate the matter with others pending in court.