Wazua
»
Investor
»
Stocks
»
The Acorn Saga - Britam vs Cytonn
Rank: Elder Joined: 7/20/2007 Posts: 4,432
|
After going through the posts here, I've come to realize that most are glorified employees with a car loan, great mortgage, company expense accounts etc type of living. That is why there is this support for stealing. Because that's what it is. Stealing. In other countries, these so called "entrepreneurs" would be singing songs of surrender. It is unethical to steal your company's clients. In many countries it is actually a criminal act. Your job contract would have some serious repercussions for trying something so shady. I hope the criminals are taught a lesson. Jose: If I make it through this thug life, I'll see you one day. The Lord is the only way to stop the hurt.
|
|
|
Rank: New-farer Joined: 4/1/2014 Posts: 47
|
What was the money doing in new jersey.thought britam and equity are tight.why bank offshore for a local company,for local projects by local investors.my theory is the 'investment' money was banked there by Baam,for other purposes akin to CMC saga.the dande-kirathe just helped themselves before actual owners and they were confident not to have disappeared with cash.to me this smacks of a deal gone sore.i might be wrong but the stories going out are just but a tip of iceberg.
|
|
|
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
|
alma wrote:It is unethical to steal your company's clients. In many countries it is actually a criminal act. Your job contract would have some serious repercussions for trying something so shady. In theory. But in practise, most people will work for clients they had a good relationship with while employed. Life is short. Live passionately.
|
|
|
Rank: Member Joined: 1/15/2010 Posts: 625
|
alma wrote:After going through the posts here, I've come to realize that most are glorified employees with a car loan, great mortgage, company expense accounts etc type of living. That is why there is this support for stealing.
Because that's what it is. Stealing.
In other countries, these so called "entrepreneurs" would be singing songs of surrender. It is unethical to steal your company's clients. In many countries it is actually a criminal act. Your job contract would have some serious repercussions for trying something so shady.
I hope the criminals are taught a lesson. Unfortunately Kenya is an anything goes kind of place. Ordinary employees think it's okay to steal from their companies, civil servants steal without remorse from government. Some people think Dande and crew are heroes. We have to restore law and order in our country by enforcing laws in a focused and disciplined way. This is a big reason why Kenya is so under developed and hit by multiple tragedies. It's completely self defeating for a country to encourage looting whether in Mumias or in private companies such as BAAM. If this trend continues, someone will do something truly horrific to Kenya expecting to avoid punishment.
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
|
Kagame wrote:What was the money doing in new jersey.thought britam and equity are tight.why bank offshore for a local company,for local projects by local investors.my theory is the 'investment' money was banked there by Baam,for other purposes akin to CMC saga.the dande-kirathe just helped themselves before actual owners and they were confident not to have disappeared with cash.to me this smacks of a deal gone sore.i might be wrong but the stories going out are just but a tip of iceberg. 1) Who said it was in New Jersey? Please show me a link that claims in was in New Jersey. Note, you said New Jersey. 2) Off-shore accounts are common for investments through SPVs that may rely on foreign funding including loans e.g. TCL, Centum. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
|
mv_ufanisi wrote:alma wrote:After going through the posts here, I've come to realize that most are glorified employees with a car loan, great mortgage, company expense accounts etc type of living. That is why there is this support for stealing.
Because that's what it is. Stealing.
In other countries, these so called "entrepreneurs" would be singing songs of surrender. It is unethical to steal your company's clients. In many countries it is actually a criminal act. Your job contract would have some serious repercussions for trying something so shady.
I hope the criminals are taught a lesson. Unfortunately Kenya is an anything goes kind of place. Ordinary employees think it's okay to steal from their companies, civil servants steal without remorse from government. Some people think Dande and crew are heroes. We have to restore law and order in our country by enforcing laws in a focused and disciplined way. This is a big reason why Kenya is so under developed and hit by multiple tragedies. It's completely self defeating for a country to encourage looting whether in Mumias or in private companies such as BAAM. If this trend continues, someone will do something truly horrific to Kenya expecting to avoid punishment. Let Dande and Company go to jail. At the minimum, they have ruined their careers. Who will give them any cash (or new investment) knowing what they know now? Plus why give someone money to invest when they will spend a lot of time fighting lawsuits? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
|
VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:Dande-Kiraithe need some powerful godfathers. The Mwangi-Wairegi-Mbaru axis will not rest until these interlopers are punished. Dande should not have bitten the hand that fed him. Sad that these young guys are being punished for being ambitious and entrepreneural. But that is the nature of corporate warfare. I hope they have some counter they can pull to keep the old men quiet re Kiereini and Njonjo. I disagree. I think what Dande & Company did was run their own firm on Britam's time. They should have walked away with a Rolodex + Reputation. Instead they walked away with funds gathered/solicited (not stolen) on Britam's dime. Fundraising requires time, money, reputation and patience. Even worse, they found the bride, negotiated the brideprice and then they eloped with Britam's bride. And the brideprice. And then rubbed it in Britam's face. Others like David Owino [formerly of Centum] is doing his own thing but not with a Centum project. If this guys moved money to other accounts while still at Britam then they're in some red hot soup. That's theft and Britam should prefer criminal charges against them, why they are not doing it and opt to sue, I don't know but it sure looks like there's more than meets the eye. This Dande team must have something on Britam.
BBI will solve it :)
|
|
|
Rank: Elder Joined: 12/2/2009 Posts: 2,458 Location: Nairobi
|
2012 wrote:VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:Dande-Kiraithe need some powerful godfathers. The Mwangi-Wairegi-Mbaru axis will not rest until these interlopers are punished. Dande should not have bitten the hand that fed him. Sad that these young guys are being punished for being ambitious and entrepreneural. But that is the nature of corporate warfare. I hope they have some counter they can pull to keep the old men quiet re Kiereini and Njonjo. I disagree. I think what Dande & Company did was run their own firm on Britam's time. They should have walked away with a Rolodex + Reputation. Instead they walked away with funds gathered/solicited (not stolen) on Britam's dime. Fundraising requires time, money, reputation and patience. Even worse, they found the bride, negotiated the brideprice and then they eloped with Britam's bride. And the brideprice. And then rubbed it in Britam's face. Others like David Owino [formerly of Centum] is doing his own thing but not with a Centum project. If this guys moved money to other accounts while still at Britam then they're in some red hot soup. That's theft and Britam should prefer criminal charges against them, why they are not doing it and opt to sue, I don't know but it sure looks like there's more than meets the eye. This Dande team must have something on Britam. The guys moved money to Britam owned company... Acorn!Not their own pockets. And nobody moves billions without the board or top management knowing. 3.9 Billion is not cheap change bana. Britam should just admit Dande and team have refused to make money for the board and decided to use Britam's money to make money for themselves and everybody else! If the asset management arm 'invested' this monies to a Britam subsidiary. shouldn't they seat and wait for their money and profits?
|
|
|
Rank: Veteran Joined: 2/21/2012 Posts: 1,739
|
poundfoolish wrote:2012 wrote:VituVingiSana wrote:sparkly wrote:VituVingiSana wrote:Dande-Kiraithe need some powerful godfathers. The Mwangi-Wairegi-Mbaru axis will not rest until these interlopers are punished. Dande should not have bitten the hand that fed him. Sad that these young guys are being punished for being ambitious and entrepreneural. But that is the nature of corporate warfare. I hope they have some counter they can pull to keep the old men quiet re Kiereini and Njonjo. I disagree. I think what Dande & Company did was run their own firm on Britam's time. They should have walked away with a Rolodex + Reputation. Instead they walked away with funds gathered/solicited (not stolen) on Britam's dime. Fundraising requires time, money, reputation and patience. Even worse, they found the bride, negotiated the brideprice and then they eloped with Britam's bride. And the brideprice. And then rubbed it in Britam's face. Others like David Owino [formerly of Centum] is doing his own thing but not with a Centum project. If this guys moved money to other accounts while still at Britam then they're in some red hot soup. That's theft and Britam should prefer criminal charges against them, why they are not doing it and opt to sue, I don't know but it sure looks like there's more than meets the eye. This Dande team must have something on Britam. The guys moved money to Britam owned company... Acorn!Not their own pockets. And nobody moves billions without the board or top management knowing. 3.9 Billion is not cheap change bana. Britam should just admit Dande and team have refused to make money for the board and decided to use Britam's money to make money for themselves and everybody else! If the asset management arm 'invested' this monies to a Britam subsidiary. shouldn't they seat and wait for their money and profits? @Pound. Above makes a lot of sense. Do not be anxious about anything, but in everything, by prayer and petition, with thanksgiving, present your requests to God..
|
|
|
Rank: Elder Joined: 9/15/2006 Posts: 3,907
|
Cytonn Investments Press StatementWe, Edwin Dande, Patricia Wanjama, Elizabeth Nkukuu and Shiv Arora, are formerly the Chief Executive Officer, Head of Legal, Senior Portfolio Manager and Investment Analyst respectively, until we formally resigned as employees of Britam. In Britam's letters accepting our resignations, no issues were raised as to our competence and professionalism in discharging the duties assigned to us during our employment. The rumours in sections of the media that Cytonn's bank accounts or any of its team members' accounts have been frozen are completely false and appear calculated and intended to shake confidence and trust in our new venture. We believe that the Suit is filed in and motivated by malice, bad faith and intense business rivalry. https://cytonn.com/news/press-statement
|
|
|
Wazua
»
Investor
»
Stocks
»
The Acorn Saga - Britam vs Cytonn
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|