Capital Markets Authority sounds warning against Cytonn Investments
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- čas přidán 16. 06. 2021
- Capital Markets Authority sounds warning against Cytonn Investments
Regulator warns public against investing through unlicensed firms
Distressed investors have turned to social media to vent
cytonn insists investment vehicle still viable
These are stories we want not always politics.
Kabisa kabisa
This is the problem with pyramid schemes. It's always easy to get in, easy to see your money grow but difficult to get out.
So much English and high sounding financial terms....but the clients only want their investments/ funds back as expected...not a wall street explanation
That's the game, use big wall street words to just take you in circles
If the investor just wants their returns then it means they are reckless investors who just go dishing out money BLINDLY to investments they have zero knowledge about. You should always invest in what you have perfect knowledge on. Otherwise, real estate investors should be very much aware of the attendant risks, illiquidity being one of them.
@@mikeinnocent Sure. One should always know the constituents of the donut they are waiting to eat. I didn't hear any other hard term there other than 'illiquidity' & if u don't understand what that means in real estate, sorry to say but u r a dumb investor.
Wacheni mimi ni sumbuke na Mozzart bet yangu. Bet ikiungua iungue. Ikiiva iive. Hii mambo ati ya forex, sijui investment, sijui nini. Ukora tupu!
Utabaki maskini
Risking is good. That's how become rich.
Just because you are dumb not everyone is
@KIM I just think you are and your colleagues are just dumb and lack knowlege of what is happening in the real world that entails the era of
@Information
@Techonlogy
@Policy Making(politics)
@Retailing(Real estates and Insurance companies)
Learn more guys before you make such judgement
@@Mwenjera
Well said@Peter Mwanjera
mkurugenzi ashaisema hii kitu
Btw,lack of liquidity is a nice way of saying ...hakuna pesa!
🤣🤣🤣 kizungu miingi ya kuficha ukweli.
The problems with Kenyans, instead of supporting your own kenyan owned companies you bring politics only for it to be taken by the politicians, so sad. They started witch hunting Cyton since it’s inception. Very sad, na wanacha kampuni za wahindi na wazungu kuendelea. Mtataliwa mpaka kufa maana akili zetu ni za kuku.
That's why money matters are always complicated.
Just stick to what you know n see. Period!
Edgar Obare and other bloggers have become a credible news source for mainstream media. I saw this story kitambo, even that lady speaking.
Profits and cash flows are not the same thing. It may be making profit but not able to pay returns because of illiquidity issues. I'm not a Cytonn fan or investor but they need to communicate clearly to clear up issues.
Mii vitu zingine siezi heri ni invest in shamba nijinunulie bila hizo company
Na unji Je'ngee pia that the only way to go.
@@mstevens832 tayari nimenunua na najenga nimebakisha plaster na milago
@@mstevens832 na Incase nipate pesa zaidi naweza fanya biashara ama nizieke bank kupea mtu eti zitazaa NOOOO
Every time a kenyan organise a group of people toward any investment call it real estates. Chama. Sacco. Bitcoin. Off plan. Whatever he or she wants to con them and became overnights billionaire.
Another small minded person 🙄🙄 They are everywhere!!
Please do your research about bitcoin. Buy bitcoin from regulated exchanges and hold it in your OWN wallet. If you are dumb enough to believe people telling you that they will double or triple your money using bitcoin if you hand over money to them then that’s an entirely different thing! Cytonn are not the problem here. People are conned because of their own greed period. Always do your own research before investing in anything. If poop hits the fan you only have yourself to blame!
Cytonn started with too many scandals when they left Britam and the negative publicity is still following them. Even if they are honest, its hard to trust them now.
Go to Britam then!
@@ordinaryme4973 return the money we go then. eish 😨
@@ordinaryme4973 Gladly!
Just like the many self styled plot's vendors with exotic names, these types of investments are scams !!!
Let's just say people need to start reading and UNDERSTAND clauses in contracts...if you don't understand, get your legal counsel to read and interpret for you before you sign.
Most investors are in Soo much pain. Cytonn should come out clear on its real financial position. This far it has categorically refused to do that asking us to go see for ourselves brick and mortar assets they have. Apart from the incomplete alma and cysuites, what else are we supposed to see. 15billion watatoa wapi ndio
watulipe. C'mon, if you're not an investor, you may not feel as much pain other than quoting clauses which we were meant to have seen. A firm fighting with its own clients? Surely, there's a much bigger problem than meets the common eye.. a broke company
Did Cytonn force you to hand over your money to them in the first place??? You willingly handed over your money because of the promise of high returns right? In other words your greed is what put you in this mess. When the deal is too good... There’s a reason why a lot of us don’t invest in such. I honestly don’t understand why some people never learn. Next time use better judgement and stop looking at get rich quick schemes because there can only be one outcome! One last thing. Only invest money you can afford to lose.
@@xyztrading2445 bloggers like you are having a field day showing off your investment wisdom. Today is me, tomorrow might just be you.. start loading premium tears, zitahitajika pale mbele for sure
Invest on your own slowly..slow and sure...alot of scarms out here
Any client who invests in a high yield fund should know that it's a risky option and also real estate investment are always illiquid.
Lynne Ngugi is in a panic mode and she needs a chill pill.
This social media routine could endup bringing down a very good company which is providing employment to very many young people.
Do Cytonn have recent audited financial accounts....I would wish to go through them!!
Its would be interesting
What exactly is Cytton? Promising people high return from speculation on real estate without reserves to allow members to opt out or access part of their funds sounds irresponsible. Why not enter into agreement with lets say a bank to leverage clients who have urgent need of cash as you wit for the maturity of your assets? The PR nightmare is the result of doubts of legitimacy resulting from avoiding the mainstream financial sector that is regulated
Cytonn Investments nothing but showmanship and grifting. This is the subsidiary wing of Lehman Brothers in Kenya. Why give a conman your hard earned money?
People normally don't know.
You sound just like Britam! Tell us how the Britam fund lost 9billion and why you are keeping it under wraps!! You’ve been saying Cytonn investors have lost it all since way back then!! You starting to sound like a broken record! Keep your ‘hard earned’ pennies boy!! Cytonn is not for small timers!!
Cytonn ni wezi
Kizungu miingi sio poa.
God is great i was almost almost getting into Cytonn scam!
That ceo is very arrogant
Extremely
Allogant people talk a lot of Labish.
Jameni jameni ongeeni na sisi valuers, real estate is still the best investment but these issues still crop up, from gakuyo, suraya, dinara, banda, goldenscape, and now cytonn, don't trust these financial analysts
3:08 ...Cytonn has 4000 investors, only 200 have raised concerns... Obnoxious statement. I say, 200 smart ones.
Lakini cytonn between the investor and the person who is buying the house off plan and cytonn who have not built any house, who is the owner of the air house? Kizungumkuti aisee.
The common hustler does and will not relate. Wacha niweke pesa yangu tu kwa matress
Some time last year i was about to invest in them and a friend ho work there told me not to invest there and today i thank him
In the contract you signed with Cytonn, was there a clause regarding the Board of Cytonn having powers of freezing Capital and interest withdrawals in the event of illiquidity events? 🤔🤔 Or you didn't read it? Check clause 21 in your contract documents.
~ This clause is specifically to protect the firm against collapse when investors panic and do mass withdrawals; just as you are now panicked and angry. Give Cytonn time, they will repay you. Mass withdrawals will make it impossible for them to pay you.
Btw, you are a scammer..some of the people we don't want in this Kenya. You are soo keen to steal from poor hapless Kenya and promote that silly idealogy of contract nonsense
@@mikemwinzi343 I am an investor in Cytonn as well and my money is held there. The difference is I am not emotional like you, and I am honest with myself about the illiquidity clauses in Cytonn's contract documents. Even shares of Mumias Sugar, Athi River Mining and other companies have previously been suspended from trading on NSE to prevent erosion of investor value when investors get emotional like you.
~ You think insulting strangers online will help Cytonn have the cashflow to pay us back? Why don't you sue Cytonn and let's see how far you go.
@@gabiesanchez8943 scammy douchebag 🤔.. twende kazi, your challenge is accepted 👍
No need to insult strangers online when they raise logical arguments that expose your shallow points. Improve your argument and have a decent discussion with respect. Insults will not improve Cytonn's cashflow problems or help with liquidity to help us get paid our money. Even suing Cytonn will not help.
@@mikemwinzi343 if you are not a Cytonn investor how does this concern you?!.. or are you the scam police? Sounds like you are just a poor Kenyan with nothing to invest!! Cytonn is not for small minded emotional! broke ass people who cannot afford to wait for the COVID distress to end and business start operations again!!
Uyu linn ngugi awache kelele has she been in the seat of a C.E.O ? Yeye ana taka pesa chap chap.. Dennis otieno uyo witness ana piga kelele
Ushawai ona lawyer ambaye Hana kelele na kizungu mingi in Kenya? The qn is how a whole lawyer (learned friend) was scammed.
I have never understood why one would put their money with Juakali investors when you can invest with waren Buffett
🤔🤔🤔🤔???
High yield is always a warning sign.
Yeah Kenyan investors should just accept mediocrity! Low earnings and invest only in plots! Bodaboda! Mitumbas and such!! Anything else is too much for simpletons to comprehend! Whoever told you that died a poor miserable fella!!
This report is not complete so how Much assets do they have
Very good at calling to recruit.......
By the look on his face, things are broken.
Ni wezi
You are dealing with a criminal enterprise. Get your money back if you can
There is an estate of theirs in ndenderu its now a bushy giant.
Cytonn was recruiting people who had B+ in KCSE. So you were Sharp in robbing Kenyans?
So what are you saying about B+ students ?
@@collinskibet1811 even if you got upper credit and didn't have a B+ in high school, a job in cytonn was a no. They forgot some people had cameleon eyes in exam rooms and that's how some Bs were made.
When you put it like that then I guess it makes sense.
@@collinskibet1811 😂😂😂😂
@@thevineyard7149 Naona kuna watu wameguzwa hapa😄😄😄+44
Crowd funding for real estate projects is a terrible idea..... Better to seek finance from banks abroad
Just the return on investment is weird. Only a bank can make that much plus numerous defaulters.
just do things formally
this guys havent paid people from 2019 who invest money with them n im sure thay are still investing the money this is a huge scam
Those strong English terms after pesa imeliwa
But we can't able to withdrawal .....my 250k😭😭😭😭😭
I want to see his paycheck
They are like banda homes
👀
This is a scam. Any affected investors reach me very fast to sue these idiots. They blame everyone for their failure except themselves. Shame!!!
Reminds me of achievers and rich tech smh😢😂😂
Isn’t this warning belated?
Just pay back their money. Simple
When it's their turn to pay too much English enters their mouth.
People ignore to read the 77page T&C booklet with several closes, sub-closes, paragraphs and whatevers....
If only they could allow their financial position be determined, am sure investors would be calm. For now, cytonn remains a shell. No real assets to repay all their liabilities. I see dande talking, I feel nauseated. 15b worth of investors funds and he can only quote 1billion Karen houses which were bought out a long time ago. Alma is an incomplete project but was to cost 4billion at most. Cysuites is just apartments converted into a hotel. So where is the rest of the money?????
Waiting to queue up new investors is not a practical idea hence the Ponzi scheme tag. Real scammers
Mind you, the have a huge loan taken from SBM bank worth 650 million. The liabilities this dande guy has taken is not normal. His appetite for money is unknown. Mind you, GCR advised him in 2017 the risk of building a company on credit. Akasema wapende wasipende, pesa ya mkenya ni tamu ajab, hawezi wachilia.. Sasa mtu kama huyu niwa kazi gani..eti mli sign contract, Sasa hamwezi fanya chochote..serikal is knocking on your door
Duncan Kabui types
This guys have the wrong last name. That's where their battles are. I have invested with Cyton, and I am happy with them. The assets are there, other investment companies don't tell you how they invest your money. We don't see them being plastered with bad rep, and media propaganda . Iam ok with this guys, but they will keep fighting silly battles from the big names in Kenya who won't let them succeed. That's how our country is, if you got that last name they let you make the big buck, if not, you got to share with the. Otherwise get ready for court or KRA on your back.
But the CEO has just said over 200 people have not been paid bcoz their illiquid. Where has Kra come from, they should honour their obligations and pay people their money otherwise they're just a big scam, let's call it what it is.
Kenyans never understand the principal of ponzi
wash wash
JAKUO DUOK PESA MAR BRITAM UN KOD CORNEL
@OH Na😂😂, wrong translation
Hehehe, mayie
Gakuyo and Cytonn same whatsapp
How comes they were licenced to operate ? Where's their insurance ? you can't deny cleints after expiration of the due date! that means your are at fault. . and they can't wait you sell houses and land to back liquidity for them to get their fair share ..
I think the CEO is right
The CEO is right and honest. We signed the contract documents aware of the risks and no investor can plead ignorance. Ignorance of clauses in the contract documents is not a viable defense.
Thats how a pyramid scheme work
He thinks he is covered.
He is not Cytonn just the CEO! And yes he and Cytonn is very well covered by the Laws of Kenya!! Deal with it!!
Modern day Ponzi.
Cytonn ni pyramid scheme tu
Actually, no. They are just in a tight financial situation right now. The only problem is that they don't want to admit it so watu wanadhani wanaibiwa
Cytonn is a very sophisticated investment company period!! The small minded people are the ones panicking!! Some individuals have invested more than 100million and they understand what’s going on!! So they are chilled! What pyramid scheme has assets in excess of 14billion! If you are not a Cytonn investor just shut the fuck up!! You gain nothing and you loose nothing!! So take your little brain elsewhere!!
@@ordinaryme4973 So what is going on that their not honouring their obligations to investors and don't say COVID some pple have not been paid for payments due in Feb 2020. It's high time we called it what it is a BIG SCAM, don't bring here stories of understanding.
@@ordinaryme4973 what is 14 billion sh.? It still is a Ponzi scheme
👀