The Capital Markets Authority (CMA) is seeking information from the public to support investigations into unregulated entities, including Global Investment Group and Quant Vest Stock Exchange (QVSE).
In a notice issued on Friday, October 16, the CMA said it was working with the Capital Markets Fraud Investigations Unit (CMFIU) and urged anyone with information about cryptocurrency wallet addresses or transaction records linked to suspicious transfers involving the entities to come forward.
CMA urged people with relevant information to share cryptocurrency wallet addresses, transaction hashes, and identification numbers that could help investigators trace suspicious transactions.
Transaction hashes are unique identifiers that can help investigators locate and examine transfers recorded on a blockchain.
The authority said the information would support its ongoing investigations into the entities.
“Any person who has information relating to the cryptocurrency wallet addresses associated with suspected fraudulent activities and transaction hashes/IDs linked to suspicious transfers by these entities is requested to share any information to support ongoing investigations,” the authority stated.
How to Submit Information to CMA as Regulator Warns Kenyans Against Unregulated Platforms
Members of the public with relevant information can submit it through the CMA’s official email address, [email protected], or its whistleblower portal.
The authority has also provided a QR code that lets individuals access the reporting channel.
The request comes as the regulator seeks information to help investigators examine transactions linked to the entities under investigation.
Alongside the appeal for information, the CMA has urged Kenyans to remain vigilant when dealing with investment platforms.
The regulator advised prospective investors to confirm whether an entity is licensed before investing.
Members of the public can check the status of investment firms and other regulated entities through the authority’s official licensees directory.
Also Read: CMA Exposes QVSE and 14 Others Taking Kenyans’ Money Illegally
Two Women Charged; Investors Report Frozen Accounts and Withdrawal Problems
The CMA’s appeal follows charges against two women over the operations of QVSE and Global Investment Group in a case involving allegations that Kenyan investors deposited hundreds of millions of shillings into an online investment scheme.
The CMA accused the two of operating a collective investment scheme through QVSE and Global Investment Group without approval between January 1 and September 17, 2026.
Investors interviewed by Business Daily said they were told they were trading shares of US companies, including Tesla and Apple. Those who deposited US$500 were reportedly promised returns of US$6 per trade, while investors who deposited US$1,000 were offered US$12 per trade.
The platform later froze accounts and demanded additional deposits from users seeking to reactivate them, according to the investors’ accounts.
Also Read: CMA Names Firms Helping Kenyans Invest In Dangote Refinery IPO
Concerns about QVSE had emerged months earlier. On July 22, Ghana’s Securities and Exchange Commission listed Quant Vest Stock Exchange among 23 entities it said were promoting unlicensed investment products.
In August, the National Assembly’s Finance and National Planning Committee was directed to investigate QVSE’s licensing status, ownership, and operations after Matungulu MP Stephen Mule raised concerns.
According to technology publication Tech-ish, QVSE stopped allowing Kenyan users to withdraw funds on September 4. The publication also reported that the company was incorporated in Colorado in June 2025 for a US$500 filing fee and that its US money-services registration covered activities such as money transmission and foreign exchange dealing, rather than operating a securities exchange.
The CMA subsequently named QVSE and Global Investment Group among 15 entities it said were operating unlawfully and soliciting funds from the public without the required licences or approvals.
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