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Fraud-linked QVSE owner returns with new scheme
Ruth Mueni Kimeu(right) and Mary Katuma Mwangangi before Milimani law courts on September 23, 2026 where they were charged for allegedly operating an unlicensed collective investment scheme trading as Quant Vest Stock Exchange Ltd (QVSE) / Global Investment Group (GIG).
The person behind the QVSE investment scheme, which has been cited in court for fraud, is recruiting Kenyans on a new platform, soliciting deposits to purportedly unlock money frozen in the previous scheme.
Carl Grindan, popularly known as ‘Prof Carl’, is asking investors to deposit $400 (Sh51,800) into a new investment scheme called Apollo, with the promise that it will allow investors access to funds estimated to be close to Sh1 billion locked in QVSE accounts.
