Jared Otieno, the flamboyant businessman accused of being part of the fake gold scheme, will be detained for 7 more days pending investigations.

Police had requested for 14 days, but senior principal magistrate Paul Mayova only granted them half of that.

Jared is accused of obtaining Sh300 million fraudulently in the fake gold scheme. He was arrested on Wednesday night after police raided his palatial house in Karen.

DCI George Kinoti termed Otieno and the others involved as ‘harmful to the economy’. “He is part of a wider gang and we are still pursuing others. These people are harmful to the economy since they are selling what does not exist,” he said.

This is the second time Jared has been arrested in a fake gold con game, having been accused of the same in June 2017. He was also accused by a Venezuelan man of conning him Sh170 million.