Rwanda Investigation Bureau (RIB) has transferred to Prosecution the casefile of former boss of the Association of Microfinance Institutions in Rwanda (AMIR), Aimable Nkuranga, and his co-accused Eugene Bagire who are facing several charges related to fraud and theft.

According to RIB spokesperson, Thierry Murangira, the suspects were apprehended separately at different time - on December 31 last year and on January 2 – over use of deception in a cryptocurrency business (BITSEC).

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"They are accused of fraud, illegal operations of currency sale or exchange, and money laundering,” said Murangira.

He added the duo frequently used their youtube channel to advertise what they call ‘Real Wealth’ and ‘Millionaires Mindeset Club’ to entice the public to invest in the cryptocurrency business.

They risk a jail sentence of up to 10 years for money laundering, three years for fraud and two years for illegal operations of currency sale or exchange.

The charges also attract millions in damages.

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Murangira asked Rwandans to be careful and pay attention to all the persons who promise benefits while they intend to con their culprits.