Prosecutors on Monday, August 26, asked the Gasabo Primary Court to remand Davis Manzi, the owner of an online forex trading company accused in a Rwf13 billion fraud case, pending further investigation.

The court heard that he was reported by 93 out of 600 people who invested in the company Billion Traders FX.

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Initial information from Rwanda Investigation Bureau (RIB) indicated that at least 500 people had invested up to $10 million in the company founded by Manzi.

He faces charges of money laundering, fraud, and illicit foreign exchange trading committed since 2020.

Manzi, who was arrested on July 30, first appeared before the court on August 19, when his trial was postponed after his defence said they were not ready for trial.