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Cytonn Investments
Rank: Member Joined: 1/31/2007 Posts: 304
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Paul Kimani keep up the good work. I have also gained from an individual's relentless pursuit on an issue here on Wazua. I only wish I had listened to them earlier I would have saved myself some losses, nevertheless, I managed to get out with something, unlike others who continue to hold on to worthless stock to date.
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Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
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gk wrote:maka wrote:heri wrote:https://kenyanwallstreet.com/cma-raises-red-flag-over-ksh-122-8-million-unpaid-claims-at-cytonn/
letter dated 21st September 2020 by CMA to Cytonn is seeking for the fund manager to resolve these investor complaints it has received against the investment firm.
A copy of the affidavit filed in court by the Authority, seen by Kenyan Wallstreet, shows that the regulator has so far received complaints from investors who are owed upwards of KSh 122.8 Million in unpaid claims. CMA says the investors are unable to cash in their investments-that have matured Well.. 🤷🏾♂️🤷🏾♂️🤷🏾♂️ Sooner or later they were going to reach their Waterloo.. It was mentioned here and wazuans warned about putting their money in cytonn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 1/19/2016 Posts: 204
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moneydust wrote:Paul Kimani keep up the good work. I have also gained from an individual's relentless pursuit on an issue here on Wazua. I only wish I had listened to them earlier I would have saved myself some losses, nevertheless, I managed to get out with something, unlike others who continue to hold on to worthless stock to date. Thank you. This is just the beginning of a domino effect. A small claim when Cytonn have embezzled billions robbing innocent public of their savings. We must not let the FOUR that began it get away with it, no matter what they are doing now. 1. EDWIN DANDE
2. PATRICIA WANJAMA
3. SHIV ARORA
4. ELIZABETH NKUKU
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Rank: Member Joined: 1/19/2016 Posts: 204
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https://twitter.com/jero...309406800589008898?s=21
The tweet says “ I recall Cytonn's Kilimani project & the contempt with which Dande treated & threatened concerned residents @adrianblomfield @ConstantCap @irunguhoughton Wah! Now they've put that multi billion plot up for sale. . . The harder they fall.” They are scrambling for funds, not liquid and very much in debt. Investor funds doesn’t cover their failed projects.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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It's getting ugly ... Very fast. possunt quia posse videntur
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Rank: Elder Joined: 6/23/2009 Posts: 14,322 Location: nairobi
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maka wrote:It's getting ugly ... Very fast. Anyone offering higher annual interest rates than GoK 364 day Tbill must always be treated with deserved suspicions COOP, IMH, KEGN, KQ, MTNU
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Its very sad to see people celebrating the downfall of Cytonn, Dande and Co. I say unto you that those are people who don't know how capitalism works. An investment Advisor/ Manager like Cytonn is an agent. The Agency makes money whether the Principal (Investor) makes money or loses money, as long as there is money in the portfolio. Dande is like a Bank CEO. He receives a salary whether the bank is profitable or not. If the bank fails, he will simply move to the next employer and leave the savers to lick their wounds. Those celebrating the downfall of Cytonn are essentially celebrating the losses of investors. On the other hand, investors rushing to get out will cause a run on the fund leading to a sure collapse. Investors are best advised to be patient and ride out the hard times occasioned by Covid19. Anyway Here is the clarification by Cytonn. Life is short. Live passionately.
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Rank: Member Joined: 1/15/2010 Posts: 625
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There is a situation which an investor doesn't want to get into.
1. Being in a burning theatre with only a single door.
2. Seeing a fraud and not calling a fraud.
Cytonn was seemingly defying the laws of gravity but they were flying too close to the sun. Unfortunately, reality catches up even with slick marketing. We never learn that we never learn.
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Rank: Veteran Joined: 7/5/2010 Posts: 2,061 Location: Nairobi
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sparkly wrote:Its very sad to see people celebrating the downfall of Cytonn, Dande and Co. I say unto you that those are people who don't know how capitalism works. An investment Advisor/ Manager like Cytonn is an agent. The Agency makes money whether the Principal (Investor) makes money or loses money, as long as there is money in the portfolio. Dande is like a Bank CEO. He receives a salary whether the bank is profitable or not. If the bank fails, he will simply move to the next employer and leave the savers to lick their wounds. Those celebrating the downfall of Cytonn are essentially celebrating the losses of investors. On the other hand, investors rushing to get out will cause a run on the fund leading to a sure collapse. Investors are best advised to be patient and ride out the hard times occasioned by Covid19. Anyway Here is the clarification by Cytonn. There are some naive people genuinely caught up in this unfortunate mess. However, many think they are the smart, intrepid investor who will snatch the meal right off the lion's maw. Many knew exactly what kind of animal Cytonn is and put in vast amounts anyway, gambling that by the time the whole thing collapses, they will be long gone, fat profits in tow -and it will be other suckers who will have their balls caught in the revolving door. Tricksters rely on this kind of hubris time and again and it rarely fails.
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Rank: Member Joined: 1/19/2016 Posts: 204
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sparkly wrote:Its very sad to see people celebrating the downfall of Cytonn, Dande and Co. I say unto you that those are people who don't know how capitalism works. An investment Advisor/ Manager like Cytonn is an agent. The Agency makes money whether the Principal (Investor) makes money or loses money, as long as there is money in the portfolio. Dande is like a Bank CEO. He receives a salary whether the bank is profitable or not. If the bank fails, he will simply move to the next employer and leave the savers to lick their wounds. Those celebrating the downfall of Cytonn are essentially celebrating the losses of investors. On the other hand, investors rushing to get out will cause a run on the fund leading to a sure collapse. Investors are best advised to be patient and ride out the hard times occasioned by Covid19. Anyway Here is the clarification by Cytonn. It’s Dande and co’s arrogance and entitlement ever since incorporation, with their constant need for media attention, court cases, and empty noise for years and daylight stealing that people are happy to see finally called out. Not the unfortunate investors caught in the middle. It would be and is incorrect to suggest otherwise. End of the day - haters still going to hate on the whistleblowers rather than the embezzler. Sad.
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