Mass. Man Charged With Defrauding Kenyan Investors

By Ira Kantor, Boston Herald

March 25--A Malden man was charged today with the fraudulent sale of securities as part of schemes to defraud Kenyan investors in Massachusetts, according to Secretary of the Commonwealth William F. Galvin.

An administrative complaint names Harison Muiruri Maina and his companies -- Ajabu Financial, Ajabu Media Communications, Ajabu Ventures and JH Creations, which are located in Woburn, Lowell and Malden, Galvin said.

Maina also allegedly used several websites as cover in pursuit of his schemes, Galvin said.

The complaint seeks an accounting of all proceeds received as a result of the improper conduct, remuneration to those who suffered losses as a result of the wrongdoing, and a dismantling of all websites and web content used to solicit investors, offer securities and offer investment advice, Galvin said. The complaint also asks for an administrative fine.

Maina, a Kenyan national, was registered to sell limited types of securities from 2006 to 2008, but was fired by two companies he worked for and is no longer registered to sell any security, Galvin said, adding Maina currently holds a license to sell insurance.

One investor cited in the complaint gave Maina $10,000 last year for shares in Ajabu Media Communications. When the investor asked for her money back, Maina allegedly told her she could only sell her shares to another investor, at which point she filed a complaint with the Securities Division, Galvin said.

The complaint also charges that Maina began offering securities and investment advice in March 2009 through companies he created. He also offered tax advice through Ajabu Financial although that company does not appear to employ qualified and licensed tax professionals, and the complaint alleges that the tax service was a device to get access to people's refunds, Galvin said.

The complaint added that many of the investors duped by Maina were Kenyan citizens who would not speak because Maina had allegedly threatened to reveal their immigration status to authorities.

When summoned by the Securities Division, Maina invoked the Fifth Amendment and refused to answer questions, Galvin said. In addition to his various companies and websites, Maina is known by several variants of his name, including Harison Justus, Harison J. Maina, Harison Muiruri and Maina Harison Muiruri.

Maina could not be immediately reached for comment.

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Source:	McClatchy-Tribune Information Services
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