A Kenyan woman named Pamela Atieno Moro has been charged with two counts of operating an online forex brokerage business without a license from the Capital Market Authority (CMA).

She pleaded guilty to engaging in an illegal business in contravention of section 23 (1) of Section 34 (1) of the Laws of Kenya (LoK), Cap. 485 A of the Capital Markets Act.

Atieno and the other suspect are alleged to have jointly engaged in an online forex broker business without a CMA license within the Republic of Kenya between November 6 and December 29, 2022.

The second charge alleges that on November 29, 2022, Atieno obtained Sh80,000 from Miriam Wanjiru Kiarie with the intent to defraud her by pretending that she would invest the money in online forex trading, which was clearly false.

After Atieno pleaded guilty to the charges, state prosecutor Abel Omariba asked the court to withhold a statement of the facts of the case so that he could present another suspect facing the same crime.

Prosecutor Omariba told the court: "I beg the court to allow me to bring another suspect who colluded with Atieno to present the facts before the court."

The judge granted the prosecutor's request and directed that the accused be remanded in custody pending the appearance of another suspect on April 6, 2023.

It was revealed that Atieno had been on bail until her arrest and subsequent arraignment in court.