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How German national lost Sh8.5m lose in fake gold deal, sues Kenyan company

A foreigner has moved to court seeking to get Sh8.5 million which he lost to a Kenyan company in a fake gold deal.

Mr Stefan Hans Ulrich Teschke, a German national entered the deal on behalf of a Dubai-based company known as Contra Group and believed that O.H. Holdings Group Limited was in a position of supplying 13, 660 kilograms of gold.

On October 11, 2023, Mr Stefan entered into a contract with the Kenyan company, where he entered into an agreement with a team led by Ms Abby Atieno.

The money was meant for the first batch of gold bars, the transportation, accommodation and related expenses.

“Each kilogram of gold was priced at $44,000 (Sh5 million) as marked up for profit and commission,” a petition filed by City-based lawyer Kevin Omwanza and seen by Nairobi News reads in part.

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The lawyer in the letter further states that Mr Stefan was acting at the behest of Contra Group to supply him with the required amount of gold.

“The delivery of the consignments was staggered into thirteen denominations of various weights all totalling up to 13, 660 kilograms,” the lawyer further said.

According to Mr Omwanza, all the money was paid to the Kenyan company through its Bitcoin wallet and the balance was used miscellaneously in pursuit of the ‘fake’ gold deal.

However, after the money was paid as agreed, the deal did not go through as the Kenyan team failed to deliver the gold.

“You failed to deliver the first batch of gold bars for which Our Clients had paid as explained above,” the lawyer further said.

The lawyer said that the Kenyan suspects failed to go on with the deal which caused him a great deal of inconvenience, and loss of profits, in addition to putting their hitherto impeccably good reputation at great peril.

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The company had been issued a demand letter on March 14, 2024, and they failed to issue a response regarding the same.

Mr Stefan told Nairobi News that he was allegedly lured into the deal by Ms Abby Atieno who introduced herself as the daughter of a General who was involved in gold deals that are directly fetched from mines in Congo.

Interestingly, she reached out to the victim at a time when he was interested in purchasing the precious mineral.

He said that he even took the initiative and visited Kenya as they engaged in the deal.

“I was taken to an office where people dressed in military-like fatigue even came and said that they had delivered the consignment. They had to hire the security because gold is very precious,” he said.

According to him, the deal appeared to be real and he never thought that he was about to lose millions which has now made him have a fallout with his clients.

Nairobi News reached out to Ms Atieno who is yet to comment on the matter at the time of going to press.

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She even sought the help of a media personality to reach out to this reporter over the questions raised to her.

However, in a series of responses sent to Mr Omwanza she said that she was not aware of such a matter.

“Good afternoon, I am not aware of the above allegations nor the parties involved and if there is proof of any bitcoin paid to me. Kindly, share proof,” she said in an email which is in our possession.

O.H Holdings Group as well neither responded to our calls nor messages.