CMA should help investors who have lost their money.

CMA might not make everyone whole but fraudsters should not be walking free.

Yesterday your team sent a very convincing lass who captured our attention.
Problem is, she, like many people who pretend to be all urbane, smart and savvy did not even know which product she had signed up for.
If she was Caucasian.. I tell you for a fact, she would have blonde hair.

Sadly she accused CHYF of continuing to advertise while they were not paying up. CHYF is very regulated by CMA (and they, CMA, stated so in their bogus letter that they did not even sign).

Now if Cytonn was not meeting its obligations to clients on CHYF, which is CMA regulated, and all the bile between the two.

Do you Paul Kimani think CMA would have let Cytonn go free?
Do you think Cytonn CEO would have dared attack CMA CEO if they were doing something wrong with CHYF?

On another note. CHYS, a private investment placement has 6,000 investors who pumped in 14B. That is an average of 2.5M per person.
Now Ask your self, with the 80/20 pareto rule. How many of those have a bigger stake in CHYF and how many of the 20% controlling 80% of the fund have sued or made noise on social media?

You had changed tact to appealing to emotions now I see the attack is people have lost money. Hasn't Cytonn reiterated that liquidity is the issue and everybody is in the same boat. Did you ever see Gakuo offering people an underlying asset like Cytonn is? Or Suraya.. or the many other real Ponzi schemes that we only hear of after they go burst and directors disappear?

Ata wewe ni mjinga. It can't be a ponzi if they have real estate projects. Bad investment yes, ponzi no.

Cytonn has never been shy to face its faceless accusers in the mainstream.
If anything, back in the initial days, your funders threatened to withdraw adverts from media houses that gave Cytonn a platform.

Let it go big. I hope you shall be on the same media giving your evidence and insights.

As I eat my popcorn let's see the lay of the land.

@paulkimani seems to have been vindicated but @poundfoolish, @tonystark and @sparkly are putting up a fight.

I agree that Cytonn didn't start out as a Ponzi scheme but some unlucky events eg fiscal indiscipline of GoK and COVID19 has played a huge role in slowing down sales and construction of the real estate projects.

Good luck to the investors in CHYS. Perhaps over time they will recover their principal but the 14-20% interest they were promised may be a bridge too far.

Another option is to take the completed apartments in lieu of the cash. Yes, it might involve a haircut but at least you have an asset in hand you can rent out.

This won't be resolved anytime soon.... Poleni sana...This life is brutal.

VVS was being very polite...🙂

Don't put words in my mouth which is already full of popcorn.

I don't think I ever called Cytonn a "Ponzi scheme" but it was rather ambitious. Too much too soon.

I saw that with ARM where Paunrana took on too much debt and ARM got wiped out in a combination of PEV2008, GFC and Pombe. Had it succeeded, it would have been a huge success and become top 3 in EAC but it did not.
I got caught up in it too.

And, of course, KQ with Project Mawingu.

@paulkimani, for better or worse, seems to be right on his call re: Cytonn.

BUT I am rooting for the investors to come out even, if not ahead.