They are accused of obtaining loans amounting to Ksh10 million from three financial institutions through impersonation including one against State House spokesperson Kanze Dena.
The two suspects allegedly worked with NTSA officials to doctor original logbooks and borrow loans from the financial institutions.
Under the alias Simon Mutinda, one of the suspects applied for loans using the fake logbooks, leaving actual owners of the vehicles heavily in debt when they were faced by the financial lenders.
In the month of July, they borrowed Ksh2.5 million from one agency, Ksh1.8 million from a second agency and another Ksh2.5 million from the third institution.
The suspects were found in possession of 14 fake logbooks.
Questions on how the two managed to transact and withdraw the money still remain unanswered.
The two conmen also face accusations of impersonating Kanze.
They registered an e-mail and phone number which they used to obtain money from unsuspecting businessmen.
They promised their victims audience with President Uhuru Kenyatta if they paid specified amounts of money.
The duo is being held at Pangani Police Station and will be presented in court on Thursday, August 19.