NAIROBI, Kenya, Jan 28 – Joseph Kairobi, alias Khalif Kairo, the embattled car dealer, has addressed public concerns over a fundraising campaign linked to his company, distancing it from claims of directly soliciting funds from Kenyan investors.
“We are not channeling funds directly from the public into a Kenyan company,” Kiro clarified in a statement. “Flex_Mobi is a US-registered corporation governed by Securities and Exchange Commission (SEC) regulations, allowing global investment.”
Flex Mobi is reportedly seeking funds under Regulation Crowdfunding through the US-based platform Wefunder. Kiro emphasized the campaign is in a “testing the waters” phase to assess interest, with no money or commitments being solicited or accepted prematurely.
He further assured that any potential investments could only be made through Wefunder’s platform and would adhere to SEC rules.
Despite these assurances, critics have raised concerns about the company’s transparency, investor fund management, and potential risks tied to the venture. Some fear the campaign could lead to exploitative practices under unclear terms.
The controversy follows Kiro’s January 12 arrest over allegations of fraud, after failing to deliver a vehicle to a fully-paid client.
Flex Mobi’s ongoing fundraising efforts remain under scrutiny as skepticism over Kiro’s business practices grows.
