They appeared before Kibera senior principal magistrate Barbara Ojoo [Photo/flickriver.com]
Two students from Strathmore University were charged on Wednesday with conning unsuspecting Kenyans over Sh8 million in a pyramid scheme.
Stompy Mwendwa and Jeff Kiprotich, however, denied the charges of obtaining money by false pretense before Kibera court senior principal magistrate Barbara Ojoo.
The court heard that the two committed the offence on February 23, 2016 at Fatima apartments on Marcus Garvey Road in Kilimani Nairobi.
Allegedly, the two, with intent to defraud obtained Sh400,000 from Hellen Ajode by pretending she would reap from Online Forex Trade at Hive Equity Ltd if she invested in the online firm.
Kiprotich and Mwendwa also faced seven other accounts of obtaining Sh7.8 million from seven other Kenyans whom they persuaded to invest in the firm.
Their legal representative pleaded with the court to grant them reasonable bail terms because they were still at school.
The lawyer said because the two presented themselves to court as directed by police after being released on bail shows they will adhere to court directives.
Kiprotich and Mwendwa further asked the court to consolidate the case with another one in which they are charged with the same offence.
The victims of fraud, however, pleaded with court to deny the two bail, pending the submission of affidavits sworn by them.
State lawyer Annette Wangia opposed the application to merge the two cases.
Police say the accused were recruiting Kenyans promising them higher returns from the online business.