More clarification from the BD story. Interesting. Do you believe it?
http://www.the-star.co.k...rship-two-days_c1333131
"Safaricom Consumer Business Unit director Sylvia Mulinge said she was the top executive referred in the story. Mulinge said it was true she had invested all her personal savings in Chase Bank but denied any knowledge of the bank's collapse.
Read her statement below
I have noted with concern an inaccurate and sensational story published in one of the local dailies, and I would like at the earliest opportunity to clarify the following facts:
I am among one of many Kenyans approached by the management of Chase Bank to invest in a private placement of the company’s shares in my private capacity. Having reviewed the bank’s investment memorandum, I decided to invest in the future of the bank, applied and paid for some of the shares on offer using my savings.
However, I can confirm, that almost six months after applying and thereafter making payment, I was not issued with any share certificate confirming ownership of any shares in the bank. It is on record that I have sent various correspondence over several months to the management of Chase Bank regarding the allotment of shares and even requested for a full refund of my investment given the delays. I have also not received confirmation that my name is on the share register in the company’s annual return.
I, and indeed other similar investors, were not privy to or aware of the Bank’s decision and timing to refund the investment which we had paid for earlier. As mentioned, since no shares had been allocated to me, this did not amount to a liquidation of shares as inaccurately described in the article.
I can confirm that even though the refund was credited to my account in Chase Bank, I was not able to withdraw any of it. To date my life savings remain trapped at Chase Bank together with the hard earned savings of thousands of other hard working Kenyans and which I cannot access just like any other depositor. "