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CDSC employee steals 15m from investors
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Jamani
#11 Posted : Friday, March 02, 2012 11:41:47 AM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
muganda wrote:
@Gordon Gekko @Jamani, yes maybe @GenghisCapitalLtd can provide a better 'political' response.

But as it stands, if the 'devil' walked into any broker claiming to have shares, which CDSC fraudulently verifies as being authentic and domicile in a depository account, it is natural to expect a broker to transact.

Note the story says these shares were 'purchased' and so infringement happened against that different broker - NIC Capital. The only entity that can dispute their validity beforehand would be CDSC.



@muganda your theory seems to holds some water but on this one let Genghis Capital ltd explain... they have the facts at hand
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  | | Edit by user: Friday, March 02, 2012 11:48 AM | Reason: Not specified
tajiri
#12 Posted : Friday, March 02, 2012 11:57:34 AM
Rank: Member

Joined: 9/28/2007
Posts: 45
We should probably invest in fraud prevention and governance before embarking on vision2030. Kenya is den of thieves... Our stock exchange has been at the centre of fraud and get rich schemes for many years.. From the principal stockbrokers, employees, agents. While the owners of the stockbrokerage firms defraud clients, their staff steal from both sides. You should ask people who asked some prominent firm to invest for them in the early 2000s. Ask a former director of KCB. Fraud and shortcuts is our biggest obstacle to becoming an economic hub. Unfortunately we have no insight 'Mtu anakulia penny anafanya kazi'

What if we devolved the operations of CDSC to the counties to make operators in the stock exchange 'representative of our country's population!!!' haha
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hisah
#13 Posted : Friday, March 02, 2012 12:06:58 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Does CDSC have an FB account or twitter handle? This needs to start trending asap. There is no way an authoritative body can treat this casually, yet they're the prime custodians. This is unacceptable...

On twitter the big stick hash tag can be used to get this trending in KE - https://twitter.com/#!/search/%23TwitterBigStick
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by moderator: Friday, March 02, 2012 12:12 PM | Reason: url tags
Jamani
#14 Posted : Friday, March 02, 2012 12:10:20 PM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
Remember it takes two to tango..... and there is smoke at the end of the tunnel.. whats inside??
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dunkang
#15 Posted : Friday, March 02, 2012 12:37:10 PM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
I strongly believe the named brokers have a case to answer too!

One does not place an order (buy or sell) through CDSC. CDSC only engages in clearing and settlement of the orders. Therefore, those sons and daughters of b@#$^$#s must have colluded with someone to facilitate the buy/sell orders.

Does this have any relationship with my inability to login to my CDSC account or my delayed/missing EA Cables dividends?
Receive with simplicity everything that happens to you.” ― Rashi

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Jamani
#16 Posted : Friday, March 02, 2012 12:51:54 PM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
Serious investigations will have some of the employees of the named brokers taken in "to assist police with investigations" ..... login to CDSC doesnt show ones holdings....iko story hapa
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Sure
#17 Posted : Friday, March 02, 2012 1:40:30 PM
Rank: Member

Joined: 9/9/2010
Posts: 546
Location: Garissa
@hisah
How did you hijack this thread? I fear you are one of the experts who hijacked the CDSC accounts. Or can you explain how you did it here.
Wisdom to detect when share prices hit rock bottom.
When interest on bonds keep going up, you know the bear run is on high street. When interest on bonds start leveling, the bear has met the bull and they have hit rock bottom. When the interest rates on bonds start coming down, the bull has overpowered the bear and you better be riding the bull.
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WWW
  | | Edit by moderator: Friday, March 02, 2012 1:48 PM | Reason: quote removed
wazua
#18 Posted : Friday, March 02, 2012 1:51:24 PM
Rank: Administration

Joined: 11/19/2009
Posts: 679
Dear @Sure,

It is customary for us to merge related threads. You will note @hisah's post on this issue was made on a separate thread but earlier than your post, hence the new order.

Sure wrote:
@hisah
How did you hijack this thread? I fear you are one of the experts who hijacked the CDSC accounts. Or can you explain how you did it here.


The Wazua spirit
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mukiha
#19 Posted : Friday, March 02, 2012 2:04:35 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
tajiri wrote:
We should probably invest in fraud prevention and governance before embarking on vision2030. Kenya is den of thieves... Our stock exchange has been at the centre of fraud and get rich schemes for many years.. From the principal stockbrokers, employees, agents. While the owners of the stockbrokerage firms defraud clients, their staff steal from both sides. You should ask people who asked some prominent firm to invest for them in the early 2000s. Ask a former director of KCB. Fraud and shortcuts is our biggest obstacle to becoming an economic hub. Unfortunately we have no insight 'Mtu anakulia penny anafanya kazi'

What if we devolved the operations of CDSC to the counties to make operators in the stock exchange 'representative of our country's population!!!' haha


Read the story again; right there in para 2
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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josiah33
#20 Posted : Friday, March 02, 2012 6:29:14 PM
Rank: Elder

Joined: 1/27/2011
Posts: 1,777
Why is the Genghis guy mum about all this?
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  | | Edit by user: Friday, March 02, 2012 6:36 PM | Reason: Not specified
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