A few years back, the Kenyan government wanted to encourage exports. So the government said to local businesses: For every $100 of stuff you sell to someone outside Kenya, we’ll give you Kenyan shillings worth another $20.
A con artist saw an opportunity. He launched a company that exported nonexistent gold for nonexistent dollars, and collected a real government bonus. Then, when he was about to get caught, he started his own bank. That’s when the scam really took off.
On today’s show: How one guy pulled off one of the largest financial scams in Kenyan history, avoided prison, re-branded himself as a man of God, and ran for a seat in parliament.-NPR