News
Big names linked to Sh34b pyramid cons
Victims of pyramid schemes register with by the task force formed to investigate the dubious investments in which hundreds of families lost billions of shillings. Photo/CHRIS OJOW
Posted Thursday, June 4 2009 at 22:15
The Banking Fraud unit took Mr Donde, the chief executive and founder, to court in September 2006 for allegedly carrying out banking business without a licence but the case was later dropped.
Other organisations reported to have taken deposits include Jitegemee, Akiba Micro Finance, Acid, Clip, Sasanet, Kenya Business, Global, Circuit, Swop Silver Ventures and Fino. Akiba has a pending case in court for allegedly receiving deposits without a licence.
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Submitted by lwamariuPosted June 06, 2009 02:50 PM
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Submitted by nakun
its simple logic, anything that gives birth(reproduce) has to die period. tangu lini peza ikazaa anyway?? my mom used to call me akili punguani when i erred, i wonder what title she'll give to this lot
Posted June 06, 2009 11:47 AM -
Submitted by pkariithi
you may call it greedy but you wonder why the gov't can let such schemes thrive on sweat of poor wananchi looking for way out to sort out their problems. these schemes operated on peoples desperation to make ends meet. i think it is politicians strategy. think off safaricom shares n how people took loans and credit thinking they'd benefit.
Posted June 06, 2009 08:47 AM -
Submitted by yooyo
kenyans!! ''when the deal is too good think twice'' This is just the begining wait for the real show. Your little savings and land that you own are up for grabs.
Posted June 05, 2009 10:31 PM -
Submitted by okundu
Were other Kenyans not conned of their money by some well known Insurance brokers. Have these insurance brokers been punished? Kube kabisa.
Posted June 05, 2009 08:48 PM
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This is not a first time such ponzi schemes have been operated. In 2001 Madam p and the others endorsed by Labour minister, lied about jobs in the middle east and corned people millions. Not a cent has been recovered nor any litigations aganist the culprits. I guess justice shall be served on the judgements day. Amen