Kicukiro Primary Court will, on Tuesday, January 17, open the pre-trial hearing in a fraud case involving Aimable Nkuranga, the former head of the Association of Microfinance Institutions Rwanda (AMIR) and his accomplice Eugene Bagire.

The spokesperson of the Prosecution, Faustin Nkusi, confirmed that the duo will be facing three charges of illegal operation of currency trade, fraud and money laundering.

The New Times has learnt that during the hearing, the suspects are expected to seek bail.

Nkuranga was arrested late last year along with his colleague Bagire, with whom they allegedly committed crimes related to fraud and theft in the cryptocurrency business (BITSEC).

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The duo are alleged frequently used their YouTube channel to advertise what they call ‘Real Wealth’ and ‘Millionaires Mindset Club’ to entice the public to invest in the cryptocurrency business.

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If convicted, they face 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.