Home SK - Stocks, Property, Investment Chamas - Investment Groups BIZ - Small Business Soko - Market Wazua Life About Wazua
SIGN IN REGISTER
Saturday, Dec 10, 2022
Groups
To contribute to these and use other features, please register.
LATEST DISCUSSIONS
UNAITAS [1237]
Cytonn Investments [1342]
Urithi Housing Sacco [192]
Safaricom Investment Cooperative [428]
Mhasibu Investment Company Limited (MICL) Rights [44]
Pacific Realty ----Daily Nation pages 2&,3 9th ... [7]
SK Investments Co. still alive? [37]
Stock Market in Uganda [4]
The best sacco to join [160]
Safaricom investment - query [13]
Best Trees for a Tree Forest? [99]
Banks Loans adjustments after rates drop [2]
Amana Capital [12]
Ekeza savings and credit Sacco [66]
Supermarket Supplies [10]
 
Forum Jump
Welcome Guest Search | Active Topics | Log In | Register

68 Pages«<65666768>
Cytonn Investments
Queen
#1321 Posted : Saturday, October 09, 2021 10:58:09 AM
Rank: Member


Joined: 11/21/2018
Posts: 502
Location: Britain
sparkly wrote:
Angelica _ann wrote:
sparkly wrote:
sparkly wrote:
sqft wrote:
sparkly wrote:
paulkimani wrote:
Hands down the best apology ever!!
Cytonn tried to gag kenyanwallstreet’s right to free speech. The article just linked 100 other news articles about Cytonns pyramid scheme. Brilliant work by Kenyan Wall Street. What a boss, what an apology!! Cytonn spends more time fighting bloggers than handling projects. Cytonn would have been better off without this apology. BRILLIANT.

https://t.co/CEenSNg5NH?amp=1


“In compliance with the above court order, we have since deleted the stories mentioned in the order to avoid any of our staff feeling threatened and unable to do their job.

It is worth noting that the stories that the company through the court order has asked us to pull down were based on publicly available court documents and have been reported by other media houses as well and some remain available to the public. (The article has linked the news stories from BD, Nation etc)

We will continue to advise our readers and the general public that before they make any investment decision, they should first do their own proper due diligence, even in good faith situations.“



—-

Links provided by Kenyan Wall Street to articles:


Business Daily;
https://www.businessdail...-sh122m-default-2371628

https://www.businessdail...over-sh14m-debt-3224722

https://www.businessdail...ns-in-cash-call-2374156

https://edition.pagesuit...7f07db7f&appid=3420

Daily Nation;
https://nation.africa/ke...-sh122m-default-2371796

https://nation.africa/ke...over-sh14m-debt-3224664

https://nation.africa/ke...ss-house-cracks-2463786


Standard Media;
https://www.standardmedi...n-wants-cytonn-wound-up

https://www.standardmedi...nvestors-pull-out-funds

https://www.standardmedi...-safety-of-cytonn-funds

https://www.standardmedi...it-fund-cma-tells-court

https://www.standardmedi...tor-over-payments-claim


Citizen TV
Three businessmen sue Cytonn over Ksh.46 million investment


The Star Newspaper;
https://www.the-star.co....over-sh44million-fraud/

https://www.the-star.co....investment-from-cytonn/

https://www.the-star.co....d-sh467-million-refund/

https://www.the-star.co....embroiled-in-court-war/

Others;
https://www.pd.co.ke/bus...estors-escalates-53221/





They have apologized, they have pulled down the story. There is still the matter of damages (cash payment) upon proof of damages by Cytonn.

Keep us posted and try to avoid digging yourself in the same hole. The money you receive to smear Cytonn name will not be enough to pay them damages.


will they also sue all the other media houses who have written all those articles listed above?


I predicted that people would sue. Now @PK is running around reporting how people have sued!

Sparkly wrote:
Whistle blowing on what? You went to Cytonn, you signed an investment CONTRACT with them. If they don't fulfill their end of the bargain, you sue for BREACH of contract. In legal jargon this kind of a suit is called a "personam suit" i.e. you sue a particular person for the breach. This is to say there is nothing like whistle blowing on personal contracts. The most you can do is alert fellow netizens if something dodgy is going on and let everyone carry their burden.


My next predictions:-
1. Cytonn Funds will not survive the run on assets. Pole for the investors.
2. The regulated funds, structured as Collective Investment schemes will face massive loss of capital. People will be lucky to get out 50% of what they invested.
3. The unregulated funds are worse of without ring-fencing and any security. Total write-off is likely.
4. There will be no fraud prosecutions on Cytonn directors.
5. Fund Investors will have no recourse on the real estate projects. There are priority interests on the real estate.


My predictions 7 months ago. Now the high yield fund is under insolvency protection, nobody can sue or get paid without the High Court's approval.


You are dancing on your grave! smile

Anyway this was bound to happen, where is the loudmouth CEO now.


I am not an investor or any other way connected to Cytonn. I am just pointing out how capitalism works.

Insolvency by the way protects the loudmouth CEO not the hapless investors that Paul Kimani fought so hard for.


Either way, Paul Kimani has firmly been vindicated.
My 2 cents
#1322 Posted : Monday, October 11, 2021 10:53:09 AM
Rank: Veteran


Joined: 6/2/2010
Posts: 922
Aggrieved investors have been planning a major class action suit against Cytonn since mid this year.

This was Dande’s pre-emptive strike. By putting the two funds under voluntary administration, Cytonn is now protected, at least in the short-term, from claims by investors and calls to liquidate other assets to pay off investors and even eventually wind up Cytonn.

He has effectively shielded himself from investors of the troubled funds but can continue running the other parts of Cytonn. You’ve got to give it up to this guy. He spends a lot on legal advice and before the troubles, on marketing.
Angelica _ann
#1323 Posted : Monday, October 11, 2021 1:31:22 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,876
Paul Kimani should show up we congratulate him for a job well done.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
paulkimani
#1324 Posted : Monday, October 11, 2021 6:20:38 PM
Rank: Member


Joined: 1/19/2016
Posts: 200
You are all very kind, thank you. Unfortunately, as “my 2 cents” points out, under administration Cytonn is protected and it’s investors are not. My heart goes out to them.
If I have to say anything, I would hope I convinced even one potential investor to not choose Cytonn.

Please remember Cytonn was started by the Cytonn four - not only Edwin Dande.
The names of the Cytonn four are Edwin Dande, Elizabeth Nkuku, Shiv Arora, and lawyer Patricia Wanjama.


In my past posts, I have spoken about them all including Patricia the lawyer who was under investigation by the legal disciplinary committee at one point. Sadly her father sat on the board of the committee so she was let off.
Shiv Arora the other founder is now CEO of superior homes. We will see the same con/ponzi happen at Superior Homes.

I personally don’t believe Kenyans have learnt yet, and for sure I will get a lot of hate for this post. But I predicted Cytonn in 2015/16 and I guarantee a similar story where we will have grieving investors of Superior homes who, similar to Cytonn, will struggle to pay school fees or put a roof over their families heads - all because of the greed of the Cytonn four.

In the last five years I had try to contact journalists from reputable sources like Nation and Standard, to bloggers like Kahawa and Robert Alai. I was threatened instead of them hearing my story, because they were bribed, so I used this thread as a small way to hopefully help one investor.

Unfortunately this isn’t the end.
sparkly
#1325 Posted : Wednesday, October 13, 2021 1:59:56 PM
Rank: Elder


Joined: 9/23/2009
Posts: 8,074
Location: Enk are Nyirobi
paulkimani wrote:
You are all very kind, thank you. Unfortunately, as “my 2 cents” points out, under administration Cytonn is protected and it’s investors are not. My heart goes out to them.
If I have to say anything, I would hope I convinced even one potential investor to not choose Cytonn.

Please remember Cytonn was started by the Cytonn four - not only Edwin Dande.
The names of the Cytonn four are Edwin Dande, Elizabeth Nkuku, Shiv Arora, and lawyer Patricia Wanjama.


In my past posts, I have spoken about them all including Patricia the lawyer who was under investigation by the legal disciplinary committee at one point. Sadly her father sat on the board of the committee so she was let off.
Shiv Arora the other founder is now CEO of superior homes. We will see the same con/ponzi happen at Superior Homes.

I personally don’t believe Kenyans have learnt yet, and for sure I will get a lot of hate for this post. But I predicted Cytonn in 2015/16 and I guarantee a similar story where we will have grieving investors of Superior homes who, similar to Cytonn, will struggle to pay school fees or put a roof over their families heads - all because of the greed of the Cytonn four.

In the last five years I had try to contact journalists from reputable sources like Nation and Standard, to bloggers like Kahawa and Robert Alai. I was threatened instead of them hearing my story, because they were bribed, so I used this thread as a small way to hopefully help one investor.

Unfortunately this isn’t the end.


Hii kitu itakupea stress bure. Go back to living, let people carry their own crosses.
Life is short. Live passionately.
poundfoolish
#1326 Posted : Thursday, October 14, 2021 2:36:19 PM
Rank: Elder


Joined: 12/2/2009
Posts: 2,458
Location: Nairobi
They still want the entire company down.

Seems the next plan is individual character assassinations since Cytonn managed to diversify, and has now curved out CHYS from the other regulated products.

Lets see their next move!!


sparkly wrote:
paulkimani wrote:
You are all very kind, thank you. Unfortunately, as “my 2 cents” points out, under administration Cytonn is protected and it’s investors are not. My heart goes out to them.
If I have to say anything, I would hope I convinced even one potential investor to not choose Cytonn.

Please remember Cytonn was started by the Cytonn four - not only Edwin Dande.
The names of the Cytonn four are Edwin Dande, Elizabeth Nkuku, Shiv Arora, and lawyer Patricia Wanjama.


In my past posts, I have spoken about them all including Patricia the lawyer who was under investigation by the legal disciplinary committee at one point. Sadly her father sat on the board of the committee so she was let off.
Shiv Arora the other founder is now CEO of superior homes. We will see the same con/ponzi happen at Superior Homes.

I personally don’t believe Kenyans have learnt yet, and for sure I will get a lot of hate for this post. But I predicted Cytonn in 2015/16 and I guarantee a similar story where we will have grieving investors of Superior homes who, similar to Cytonn, will struggle to pay school fees or put a roof over their families heads - all because of the greed of the Cytonn four.

In the last five years I had try to contact journalists from reputable sources like Nation and Standard, to bloggers like Kahawa and Robert Alai. I was threatened instead of them hearing my story, because they were bribed, so I used this thread as a small way to hopefully help one investor.

Unfortunately this isn’t the end.


Hii kitu itakupea stress bure. Go back to living, let people carry their own crosses.

My 2 cents
#1327 Posted : Friday, October 22, 2021 9:09:58 AM
Rank: Veteran


Joined: 6/2/2010
Posts: 922
muganda
#1328 Posted : Friday, October 22, 2021 11:40:50 AM
Rank: Elder


Joined: 9/15/2006
Posts: 3,882
Pain caused needs to be shared.

I aver that if Cytonn's business as a whole reduced by half, a solution would quickly be found for those whose money is in suspense.


poundfoolish
#1329 Posted : Wednesday, December 01, 2021 11:24:10 AM
Rank: Elder


Joined: 12/2/2009
Posts: 2,458
Location: Nairobi
quietly Observing the happenings with the other investment companies that had Real Estate portfolios...

Even while keeping the chunk of the profits and giving investors meager returns, things are still elephant.

Time will tell..
obiero
#1330 Posted : Wednesday, December 01, 2021 8:38:36 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,186
Location: nairobi
poundfoolish wrote:
quietly Observing the happenings with the other investment companies that had Real Estate portfolios...

Even while keeping the chunk of the profits and giving investors meager returns, things are still elephant.

Time will tell..

There are people still invested here? A relationship that starts as an illicit affair seldom lasts. I speak in code

COOP 5,500 ABP12.6; HF 286,000 ABP 3.49; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
mkenyan
#1331 Posted : Thursday, December 02, 2021 9:18:09 AM
Rank: Veteran


Joined: 4/1/2009
Posts: 1,880
poundfoolish wrote:
quietly Observing the happenings with the other investment companies that had Real Estate portfolios...

Even while keeping the chunk of the profits and giving investors meager returns, things are still elephant.

Time will tell..

misery loves company
paulkimani
#1332 Posted : Saturday, December 04, 2021 6:28:55 PM
Rank: Member


Joined: 1/19/2016
Posts: 200
https://www.businessdail...nn-3636782?view=htmlamp

CMA wins round one in battle with Cytonn

Cytonn is using the court process in order to get preferential treatment” Hassan of CMA said.
Cytonn said it had pumped Sh96 million and may trigger its collapse.“

sparkly
#1333 Posted : Sunday, December 05, 2021 12:24:51 PM
Rank: Elder


Joined: 9/23/2009
Posts: 8,074
Location: Enk are Nyirobi
paulkimani wrote:
https://www.businessdailyafrica.com/bd/corporate/companies/cma-wins-round-one-battle-with-cytonn-3636782?view=htmlamp

CMA wins round one in battle with Cytonn

Cytonn is using the court process in order to get preferential treatment” Hassan of CMA said.
Cytonn said it had pumped Sh96 million and may trigger its collapse.“



This news must have given you a 3 hour orgasm 😉
Life is short. Live passionately.
aemathenge
#1334 Posted : Tuesday, January 25, 2022 3:09:57 PM
Rank: Elder


Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
So, Edwin H. Ndande will have a public conversation on Twitter hosted by Mawingo Capital.

I shall expect you all to rain questions on him.

Link: https://twitter.com/Mwan...tus/1485946290668294146

aemathenge
#1335 Posted : Saturday, February 05, 2022 12:15:40 PM
Rank: Elder


Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
For the attention of investors in:

Cytonn High Yields Solutions (CHYS) LLP - Under Administration

Cytonn Real Estate Project Notes LLP(CPN) Under Administration

Copy and Paste Extract:

Investors in two struggling Cytonn Group investment funds, currently under administration, have been invited for meetings next month to deliberate on the fate of the wealth.

Cytonn High Yields Solutions (CHYS) LLP and Cytonn Real Estate Project Notes LLP(CPN) — were placed under administration by High Court judge Alfred Mabeya in October last year following an application by chief executive Edwin Dande.

The funds' administrator Kereto Marima said the maiden meetings with investors in CHYS and CPN will be held on March 4, and March 2,2021, respectively.

“Attendance of this meeting is strictly online.

Registration links and the documentation pack for this meeting will be sent to the creditors who have already submitted their proof of claim forms as well as having provided the Administrator with their updated contact form,” he said.

End of Copy and Paste Extract

My question is:

Is this a meeting for aggrieved investors or creditors?

Pray do tell.

Source Link: https://nation.africa/ke...g-cytonn-funds--3705960

paulkimani
#1336 Posted : Tuesday, February 08, 2022 10:23:08 AM
Rank: Member


Joined: 1/19/2016
Posts: 200
paulkimani
#1337 Posted : Wednesday, February 23, 2022 2:42:39 PM
Rank: Member


Joined: 1/19/2016
Posts: 200
https://www.standardmedi...d-by-dande-three-others

Court throws out a second case filed by Dande, three others #dominoeffect
paulkimani
#1338 Posted : Wednesday, February 23, 2022 2:51:57 PM
Rank: Member


Joined: 1/19/2016
Posts: 200
paulkimani
#1339 Posted : Saturday, May 21, 2022 11:34:16 AM
Rank: Member


Joined: 1/19/2016
Posts: 200
https://www.standardmedi...-trial-over-sh11b-theft

“ The apex court’s decision means that it is the end of the road for former Britam managing director Edwin Dande, Elizabeth Nkukuu, Shiv Arora, and Patricia Wanjama who have been battling for eight years to stop their prosecution.

“We find that their application to stop the trial lacks merit.”

The disputes started in October 2014 when Britam Ltd made a complaint to the Director of Criminal Investigations (DCI) alleging that the former managers had fraudulently misappropriated over Sh1 billion before resigning from their positions and starting the rival investment company.

At the time of their resignation, Mr Dande was the managing director, Ms Nkukuu was the portfolio manager, Ms Wanjama was the head of legal and assistant company secretary and Mr Arora was an investment analyst.

Investigators then said they established that there were payments to various companies totaling Sh1.1 billion prepared by Mr Arora, reviewed by Ms Nkukuu, and authorised by Mr Dande but which were not approved by Britam Ltd’s board of directors.“
Swenani
#1340 Posted : Sunday, May 22, 2022 7:30:03 AM
Rank: User


Joined: 8/15/2013
Posts: 13,230
Location: Vacuum
Swenani wrote:
Reason as to why I'm no longer in Cytonn
1. My hunch tells me to leave
2. The diversification is too much;
-Serviced apartments- They are issuing cySuites apartment hotel loan notes worth 850M for operational costsSad Sad
-Cytonn Asset managers (pension mgt, Cytonn MMF,CAFF,CHYS,CREPN)
-Branded merchanidse-They are selling branded T-shirts and powerbanks...Nyasaye!Shame on you Shame on you Shame on you
- Property developers
-Property managers-Selling and renting out on behalf of the owners.....why oh why?

Im among the lucky cytonnaires who enjoyed the 18% returns for 2 yrs and fully recovered my capital in Jan 2020.However,I have just come across information which makes me think that cytonn was indeed a pyramid scheme.

Pole Horton,you might never recover your cash
If Obiero did it, Who Am I?
Users browsing this topic
Guest
68 Pages«<65666768>
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.

Home | . .. Investor | .. . Groups | .. . SME | . . . Market | .. . Club SK | . ..... About Wazua | . .. Search | . ..Sitemap | . ..Support | . ..Disclaimer | . ..Privacy Policy | . ..Terms of Use | . .. Contact Us
Copyright © 2022 Wazua.co.ke. All Rights Reserved.