German businessmen loses £50,000 buying sand he thought was gold

A German businessman has lost nearly £50,000 after conmen in Kenya sold him 'gold' that turned out to be sand.

Hotel owner Fouroughi Denawi agreed to a gold export deal with five men who claimed to be gem dealers.

Mr Denawi was due to sell the gold in Europe and take a share of the profits. The men are on the run.

According the Daily Nation newspaper, he only realised the three steel boxes were full of sand when he was about to take them out of the country.

The head of the Central Bank of Kenya's fraud unit told the newspaper investigators are looking for five people - three Kenyans and two foreigners - who are thought to be behind the fraud.

The businessman paid about 5m shillings - around £48,000 for the sand.