In one of the most significant mobile loan scams in recent history, a group of young men, aged between 24 and 30, have been exposed for allegedly defrauding Fuliza of over Ksh 400 million. Known as the “Fuliza Gang,” this 10-member syndicate reportedly orchestrated a sophisticated scheme, using over 123,000 SIM cards registered with fake or stolen identity numbers to secure loans they had no intention of repaying.
Investigators revealed that the group used these fraudulent SIM cards to access mobile loans, only to dispose of the lines and evade repayment. With the money obtained, they went on an extravagant spending spree, purchasing luxury items that included two brand-new Subarus, a Toyota Mark X, a Toyota Probox, and two motorbikes. Authorities have now moved to seize assets estimated at Ksh 449 million, which are set to be forfeited to the state.
This case has highlighted critical weaknesses in both SIM registration and the mobile lending system, with officials calling for urgent reform. “This syndicate exploited loopholes in the system’s identification process,” stated a spokesperson from the Directorate of Criminal Investigations (DCI).
Law enforcement agencies are working to implement stricter identity verification protocols in cooperation with mobile lenders and telecommunications companies. This is aimed at preventing similar schemes and strengthening accountability in the rapidly expanding mobile lending industry.
