🚩 A Kenyan couple has landed in the middle of an international financial crime investigation.

Authorities have frozen assets worth more than Sh115 million. Investigators allege the money came from fraudulently obtained US Federal Student Aid.

Court documents claim fraudsters used stolen or fake US Social Security numbers to apply for US student grants and loans.

The money was then allegedly moved through shell companies, remittance services, bank accounts and crypto wallets, including USDT on Binance.

The FBI shared intelligence with Kenyan authorities. The Asset Recovery Agency (ARA) and the DCI obtained court orders to freeze the assets as investigations continue.

Among the frozen assets are cryptocurrency, bank and mobile money accounts, two vehicles and property in Kajiado County.

Michael Machimbo and Glory Kithure reportedly deny any wrongdoing. They say they are legitimate crypto traders. They have challenged the asset freezes in the High Court.

The case is still before the courts. No final determination has been made.