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Trader in the dock for unlicensed forex brokerage

A Nairobi businessman was yesterday charged with operating an online forex business without the necessary licences.

Manases Karanja, director of Interweb Global Fortune had been trading in currencies online and offered high returns for clients, according to investigations by the Capital Markets Authority (CMA), in what appeared like a pyramid scheme and may have defrauded clients of millions of shillings.

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