Rollout wrote:It has been reported in the media that Jared Otieno Ksh. 105 million house was purchase from Cytonn Investment. I am surprised that an organization like Cytonn will expose itself to potential liability by selling a house to a known scam artist. If I was at the board of Cytonn I would be seeking some firing, that's a failure in internal control at the very least.
the anti money laundering law is real and biting. currently clued up developers do turn away from some purchases and have purchasers declaring that the money they are using to purchase properties aren't proceeds of crime, corruptions etc and the purchasers indemnifying them etc. it is still something they are grappling with.
it is interesting how people, even here, are still clueless as to the reach and effects of the anti-money laundering laws.