Opticoin fiasco: Taskforce recommends firing of three senior SDA pastors

*Opticoin fiasco: Taskforce recommends firing of 3 senior SDA pastors*

A taskforce appointed by the Seventh Day Adventist (SDA) under the East Central Africa Division to probe the use of church platform to promote crypto trading has recommended the firing of three senior pastors.

The probe teams established that senior church officials used their positions and influence to recruit innocent members into the trade in which they lost millions of shillings.

The Commission was established on February 25, 2026, by East and Carnal Africa Division (ECD) EXCOM action to conduct an inquiry on two issues, namely, a trading platform known as ‘Opticoin’ and ‘Wealth Sharing Group’ (a group that promoted online investment using the Opticoin platform) and leadership conflict in the Central Rift Valley Conference.

The 13-member committee was chaired by Dr Gideon Mutero from the General Conference (GC) based in Virginia, Maryland, USA.  

In a damning verdict, the Taskforce said that, in the case of Opticoin/WSG matters, certain pastors and other denominational employees actively promoted an illegal high-risk investment scheme, often leveraging their pastoral influence, platforms, and leadership positions, resulting in significant financial losses to those involved and a crisis of confidence among lay members.

Church leaders at the EKUC and Field/Conference levels largely failed to prevent the association of the Church with the scheme or respond in a timely and appropriate manner to the Opticoin/WSG matter.

The probe team also accused the leadership of the church of failing in their mandate and thus orchestrating divisors in its Nakuru-based CRVC, where a group of pastors were seeking to establish a splinter conference.

“That both issues (Opticoin/Wealth Sharing Group and CRVC issues) reveal a pattern of leadership failing to pay keen attention to the requirements of Church policies and ministerial ethics,” the Commission report dated April 15, 2026, states.

The Commission report states that some participants in the Opticoin/WSG scheme who appeared before the Commission, including non-Adventists, explicitly expressed disappointment with the Church and indicated that they feel their trust has been betrayed by its leadership.

“The erosion of trust and unity has a serious detrimental effect on the Church’s ability to fulfil its mission and calling, making it more difficult to proclaim the gospel effectively and to sustain cohesive and effective ministry.”

The Taskforce recommended the immediate removal of Pastor Paul Mwangi from the position of EKUC Executive Secretary and institution of further disciplinary action by the employer, observing due process.

However, by the time the report was being prepared, Pastor Mwangi had resigned. When Pastor Mwangi appeared before the Commission on Tuesday, March 3, 2026, he did not deny his involvement in the venture but asserted that he participated solely as an investor.

He further claimed to have suffered personal financial losses in excess of USD 800,000 (About Sh104million) following the collapse of the scheme. Despite the available evidence, Pastor Mwangi denied being a promoter of the venture.

The Committee also recommended the removal of another senior EKUC official who has since taken a new role at the Church’s regional body of East and Central Africa Division (ECD).

The team further wants a top executive at the Karura-based CKC to be removed from the helm of the institution of further disciplinary action by the employer, observing due process.

The Commission was initially required to undertake the assignment within a period of six days. However, due to the sheer volume of materials placed before the Commission through documents, submissions and testimonies, there was an extension of the period in order to allow the Commission to compile this report.

After reviewing the legal and regulatory framework in Kenya, the Committee concluded that Wealth Sharing Group / Opticoin is an illegal business and is not recognised under Kenyan law.

“The schemes exhibit all characteristics of Ponzi or pyramid structures, false promises, and fraudulent activity, making participation highly risky as participants were exposed to significant financial loss with no legal protection for their investments,” the report states.

It adds, “Promoters are liable under Kenyan law for criminal prosecution, civil liability to repay defrauded participants, and potential reputational harm.”

When another senior EKUC official appeared before the Commission for the second time on Friday, March 6, 2026, he was asked whether he was aware that his spouse was involved in the promotion of Opticoin/WSG, in light of video evidence presented to that effect.

In response, he declined to comment substantively, stating that the individual in question was an adult capable of speaking for herself.

The Commission carefully considered the response alongside the evidence on record and, in light of the material before it, formed the view that the man was, on a balance of probabilities, aware of his spouse’s involvement in activities associated with the promotion of Opticoin/WSG.

“The Commission finds that his failure to acknowledge or act upon this involvement amounts to a dereliction of leadership responsibility,” it states.