Nairobi, Sept. 13 -- The Capital Markets Authority (CMA) has warned against investments in 15 funds illegally operating in Kenya, including the popular Global Investment Group (GIG) and Quant Vest Stock Exchange (QVSE).

The regulator said the funds were operating without permits and approvals, and targeted the public with dubious investment opportunities.

"These entities are the subject of active investigations by the Directorate of Criminal Investigation in collaboration with the Capital Markets Authority and other law enforcement agencies," the CMA said.

"The Authority strongly cautions the public against dealing with entities and persons disguising their fraudulent activities as investment opportunities."

QVSE has attracted thousan...