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The Acorn Saga - Britam vs Cytonn
Rank: Elder Joined: 9/15/2006 Posts: 3,907
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Investreal wrote:obviously reading the young man's replying affidavit, it was obvious that him and the wazees were reading from different pages. looks like ed and team were concerned about baam investors and the wazees were only concerned about their pockets. their job was to make money for investors and charge a fee, but looks like wazee wanted them to make money for them only, and at no fee.and by the way, who is wairegi to stop payment? ...he is not the fund manager. so we are getting closer to the story: britam says it was defrauded, acorn says it is being forcefully acquired, and cytonn says they did not want to be used to screw investors. so who is right? as for wairegi, he looks very clueless sana, how do you say you were defrauded of 4 billion invested over a 4 month period? he def did not understand what was going on in baam at all, i think dande played him like a guitar. that mzee needs to go home. hope he has a clue what is going on in insurance and sales, maybe he is losing billions there too? @investinreal I respectfully disagree. Pensioners/funds/shareholders/life-insureds give BRITAM - the institution - and by extension BAAM money. Young men will always have bright ideas, but it is the names of the confused Wazees that carry weight in business. The tangible assets here are land and cash which Britam has, not ideas. If the spirit of the deal is negated, Dande should have left quietly (and leave BAAM/Britam to their fate). But 'out of nobleness' he wires the assets to SPVs - please! Let them return the assets and continue with their illustrious careers.
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Rank: Member Joined: 1/15/2010 Posts: 625
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Investreal wrote:obviously reading the young man's replying affidavit, it was obvious that him and the wazees were reading from different pages. looks like ed and team were concerned about baam investors and the wazees were only concerned about their pockets. their job was to make money for investors and charge a fee, but looks like wazee wanted them to make money for them only, and at no fee.and by the way, who is wairegi to stop payment? ...he is not the fund manager. so we are getting closer to the story: britam says it was defrauded, acorn says it is being forcefully acquired, and cytonn says they did not want to be used to screw investors. so who is right? as for wairegi, he looks very clueless sana, how do you say you were defrauded of 4 billion invested over a 4 month period? he def did not understand what was going on in baam at all, i think dande played him like a guitar. that mzee needs to go home. hope he has a clue what is going on in insurance and sales, maybe he is losing billions there too? This mzee you're dismissing is an old hand. He knows the business and that's how he's made his money over the last few decades. The young guys seemed to have got greedy and threw ethics out of the door with the knowledge that Cytonn would do business with them. David Owino of Centum showed the right way to do this.
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Rank: Hello Joined: 11/4/2014 Posts: 2 Location: Nairobi
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Interesting discussions here. From the affidavit, was this Dande dude working for Britam or Acorn? Looks like an intention to benefit from public sympathy which clearly isnt working. Keep them coming.
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Rank: Elder Joined: 4/30/2008 Posts: 6,029
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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Investreal wrote:obviously reading the young man's replying affidavit, it was obvious that him and the wazees were reading from different pages. looks like ed and team were concerned about baam investors and the wazees were only concerned about their pockets. their job was to make money for investors and charge a fee, but looks like wazee wanted them to make money for them only, and at no fee.and by the way, who is wairegi to stop payment? ...he is not the fund manager. so we are getting closer to the story: britam says it was defrauded, acorn says it is being forcefully acquired, and cytonn says they did not want to be used to screw investors. so who is right? as for wairegi, he looks very clueless sana, how do you say you were defrauded of 4 billion invested over a 4 month period? he def did not understand what was going on in baam at all, i think dande played him like a guitar. that mzee needs to go home. hope he has a clue what is going on in insurance and sales, maybe he is losing billions there too? Finally someone who gets what the real problem is all about. "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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Chedaqueen wrote:Interesting discussions here. From the affidavit, was this Dande dude working for Britam or Acorn? Looks like an intention to benefit from public sympathy which clearly isnt working. Keep them coming. BAAM is a licenced fund manager that is supposed to work for the benefit of investors, if Britam (the group) wants a piece of the pie, they should get it as part of the investors and not by squeezing BAAM management to screw other investors for their benefit. "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Hello Joined: 11/4/2014 Posts: 2 Location: Nairobi
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Ok. So all gains made to date for BAAM investors is fully attributable to this Cytonn guys exclusively?
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Rank: Member Joined: 7/23/2009 Posts: 526
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Obi 1 Kanobi wrote:Investreal wrote:obviously reading the young man's replying affidavit, it was obvious that him and the wazees were reading from different pages. looks like ed and team were concerned about baam investors and the wazees were only concerned about their pockets. their job was to make money for investors and charge a fee, but looks like wazee wanted them to make money for them only, and at no fee.and by the way, who is wairegi to stop payment? ...he is not the fund manager. so we are getting closer to the story: britam says it was defrauded, acorn says it is being forcefully acquired, and cytonn says they did not want to be used to screw investors. so who is right? as for wairegi, he looks very clueless sana, how do you say you were defrauded of 4 billion invested over a 4 month period? he def did not understand what was going on in baam at all, i think dande played him like a guitar. that mzee needs to go home. hope he has a clue what is going on in insurance and sales, maybe he is losing billions there too? Finally someone who gets what the real problem is all about. Interesting to say the least. In a firm where JM is a principal shareholder and billions are wired without his/their knowledge? These wazees are not that dumb. Accept no one's definition of your life; define your life.
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Rank: Elder Joined: 8/16/2011 Posts: 2,386
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Rank: Member Joined: 2/20/2008 Posts: 84
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@Realtreaty...none of your 'RINKS' that you post ever open...or is it just my browser?? Life and beer are very similar........chill for best results.
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The Acorn Saga - Britam vs Cytonn
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