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Wealthy Kenyans hiding 15trillion in foreign banks
MugundaMan
#1 Posted : Thursday, October 11, 2018 1:35:56 PM
Rank: Elder


Joined: 1/8/2018
Posts: 2,211
Location: DC (Dustbowl County)
https://www.businessdail...800972-80qru/index.html

Looters paradise. Dunia kuna mambo jameni...
hardwood
#2 Posted : Thursday, October 11, 2018 2:19:53 PM
Rank: Elder


Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
Why stash your loot at Equity then the account is frozen the next day. Mambo ni kujipanga my fren.
mulla
#3 Posted : Thursday, October 11, 2018 2:37:10 PM
Rank: Member


Joined: 6/15/2013
Posts: 301
hardwood wrote:
Why stash your loot at Equity then the account is frozen the next day. Mambo ni kujipanga my fren.

If that was clean money most would open a dollar/euro/sterling account etc right here in Kenya and sleep comfortably......
rwitre
#4 Posted : Thursday, October 11, 2018 2:39:51 PM
Rank: Member


Joined: 3/8/2018
Posts: 507
Location: Nairobi
MugundaMan wrote:
https://www.businessdailyafrica.com/news/Wealthy-Kenyans-hiding-Sh15trn-in-foreign-banks/539546-4800972-80qru/index.html

Looters paradise. Dunia kuna mambo jameni...


Thieves. Killing their country to fatten their pockets. Wataiacha yote tu huku dunia.
kayhara
#5 Posted : Thursday, October 11, 2018 2:42:15 PM
Rank: Veteran


Joined: 5/5/2011
Posts: 1,059
fefutin weh, that money can do wonders to this economy,I am sure the Mois and Kenyatttas are well represented Biwwot of course as Hardwood says ni kujipanga kina Karume, Ngei, Jirongo etc are either fighting or like Jirongo broke in Jail, sad thing is Industries are dying jobs are being lost yet all this money continues making other countries richer.
To Each His Own
Angelica _ann
#6 Posted : Thursday, October 11, 2018 3:01:37 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,908
you can imagine how much George left out there that will never be found and repatriated. 3rd world problems.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Impunity
#7 Posted : Thursday, October 11, 2018 5:05:05 PM
Rank: Elder


Joined: 3/2/2009
Posts: 26,328
Location: Masada
Njesso...5 years budget!
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

obiero
#8 Posted : Thursday, October 11, 2018 5:09:03 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,515
Location: nairobi
Angelica _ann wrote:
you can imagine how much George left out there that will never be found and repatriated. 3rd world problems.

Kulei will humble your estimates about George

HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
murchr
#9 Posted : Thursday, October 11, 2018 6:00:31 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,980
It could be clean money but the taxation is too much.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
hardwood
#10 Posted : Thursday, October 11, 2018 6:16:26 PM
Rank: Elder


Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
Even in the west the rich stash their cash in tax free havens.
MugundaMan
#11 Posted : Thursday, October 11, 2018 7:44:08 PM
Rank: Elder


Joined: 1/8/2018
Posts: 2,211
Location: DC (Dustbowl County)
What happened to the Gichuru case? Now that is the King of tax haven shell company layering.
Angelica _ann
#12 Posted : Thursday, October 11, 2018 9:05:36 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,908
While others are chasing monkeys at NSE & dust bowl plots smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Spikes
#13 Posted : Thursday, October 11, 2018 9:56:33 PM
Rank: Elder


Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
Angelica _ann wrote:
While others are chasing monkeys at NSE & dust bowl plots smile


Laughing out loudly Laughing out loudly Laughing out loudly
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
Impunity
#14 Posted : Friday, October 12, 2018 12:52:55 AM
Rank: Elder


Joined: 3/2/2009
Posts: 26,328
Location: Masada
Spikes wrote:
Angelica _ann wrote:
While others are chasing monkeys at NSE & dust bowl plots smile


Laughing out loudly Laughing out loudly Laughing out loudly


Ani ya nano,two dust bowl kitengela purots?
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

Monk
#15 Posted : Friday, October 12, 2018 7:29:39 AM
Rank: Member


Joined: 7/1/2009
Posts: 256
mulla wrote:
hardwood wrote:
Why stash your loot at Equity then the account is frozen the next day. Mambo ni kujipanga my fren.

If that was clean money most would open a dollar/euro/sterling account etc right here in Kenya and sleep comfortably......


Pity that you paint all investments made by Kenyans out of the country as dirty. How about foreign investors' inflows into the NSE? Is @the deal's investments in the NSE dirty too.

I once signed up for a mutual fund in the Isle of Man for eight years. I closed the account after another investment opportunity here came up.

Lolest!
#16 Posted : Friday, October 12, 2018 7:42:59 AM
Rank: Elder


Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
The article is not in good faith

A lot of holding companies, including the one that owns the journalist's employer, are domiciled in tax havens for TAX AVOIDANCE purposes.

Seen lots of companies registered in Mauritius
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
MugundaMan
#17 Posted : Sunday, October 14, 2018 9:45:56 AM
Rank: Elder


Joined: 1/8/2018
Posts: 2,211
Location: DC (Dustbowl County)
Angelica _ann wrote:
While others are chasing monkeys at NSE & dust bowl plots smile


And women tenders in the dusty village after retirement Laughing out loudly Laughing out loudly Laughing out loudly

I continue to say that Kenyans indeed are very funny. Most tie their self esteem to their wealth or lack thereof and hence look up to these looters as sort of demi gods. An example of this is the comments on this chap below's FB page from slay queens. Sadly some of our sistas here in Kenya are not left out of being in heat for these sort of chaps as you will notice from what they say on his page. Then when they get Jowied they realise it was not worth it Laughing out loudly .



https://www.facebook.com/jacob.mararo

Dunia kuna mambo, jameni!

Who says you have to loot billions and trillions to be happy, feel good about yourself, live a full productive life, or to be an acceptable human being? Perhaps constantly comparing yourself with others is what is affecting your self esteem negatively?

Mugundaman is very content with the clean sweet modest few things God has blessed him and the work of his hands with. He sleeps like a baby nyweeee at night, sound and content, without worrying whether the long arm of the law (or thugs) will come after him at any time. Ask Mohammed Dewji about how valuable this is! He is now gnashing teeth bitterly and I bet would willingly trade his fame and billions for freedom and peace! And unlike many, I do not feel "less of a person" because some looter has stashed the GDP of a small country in the Cayman Islands! My life is my life and I am enjoying it thoroughly!

"Better the little that the righteous have than the wealth of many wicked;" - Psalm 37:16
Coolbull
#18 Posted : Sunday, October 14, 2018 5:27:36 PM
Rank: Member


Joined: 10/23/2007
Posts: 604
Angelica _ann wrote:
While others are chasing monkeys at NSE & dust bowl plots smile


Funny we are all in this country together. Only the money stashed in a safe in Isle of Man is feeling good.

If one could 'stash' himself in Isle of Man then we could say - it is well for them. Unfortunately, these fools steal and hang around here. The gods just don't allow them to enjoy the money fully.

The much they do is having a mpango wa kando whom they pay in ten of thousands for an experience Kamau the sweets hawker gets for 50 bob in majengo.

Having interacted with the rich of this country I realized the only difference is that they pay higher bills.
The tea they pay 650/- for is what Wanja sells at 25/- in Mwiki.

At a certain point money reaches a plateau of the human needs it can fulfill.

That is when you find people going to church, taking drugs, paying prostitutes to smear them with s**t, visiting witch doctors, paying pastors for prayers, etc.

The earlier one discovers the limited use of money in life is the beginning of enjoying life.
[copies]
MugundaMan
#19 Posted : Monday, October 15, 2018 9:09:47 AM
Rank: Elder


Joined: 1/8/2018
Posts: 2,211
Location: DC (Dustbowl County)
Coolbull wrote:
Angelica _ann wrote:
While others are chasing monkeys at NSE & dust bowl plots smile


Funny we are all in this country together. Only the money stashed in a safe in Isle of Man is feeling good.

If one could 'stash' himself in Isle of Man then we could say - it is well for them. Unfortunately, these fools steal and hang around here. The gods just don't allow them to enjoy the money fully.

The much they do is having a mpango wa kando whom they pay in ten of thousands for an experience Kamau the sweets hawker gets for 50 bob in majengo.

Having interacted with the rich of this country I realized the only difference is that they pay higher bills.
The tea they pay 650/- for is what Wanja sells at 25/- in Mwiki.

At a certain point money reaches a plateau of the human needs it can fulfill.


That is when you find people going to church, taking drugs, paying prostitutes to smear them with s**t, visiting witch doctors, paying pastors for prayers, etc.

The earlier one discovers the limited use of money in life is the beginning of enjoying life.
[copies]



Wise words, my broda. I remember reading a book on the richest people in Britain more than a decade ago. It featured well over 100 of them. It highlighted their lives and stories of how they made their wealth. One thing in particular said by one of those wealthy guys struck me and has stayed with me to this day. He said something along the lines of "rich is rich, there is no real difference in the lifestyle of people beyond a certain threshold. The only difference is in the scale of the toys." I have found that to be so true. This is why I tell people to focus on their own journey instead of lustfully envying the wealth of others.

A person does not need a gazillion dollars to have a reasonably comfortable life. In fact I believe someone with modest assets and financial independence who is able to to what they want when they want and anonymously so is way better off than a looter-billionaire who has to literally become paranoid just to exist. Ask Saitoti! I would never have wanted to live his life even if you gave me 200 billion dollars for it!


capitalism
#20 Posted : Tuesday, October 23, 2018 4:48:44 PM
Rank: New-farer


Joined: 4/12/2011
Posts: 26
I suppose the reason why they stash the loot offshore is for the sheer lack of security. They dont trust the Financial System in Kenya. They know its crooked. And they also know its susceptible to the shifting political landscape.

Things aren't that easy offshore either because regulations there are changing rapidly. They have enacted things like Source of Funds. These guys have to declare where they got their money. These offshore jurisdictions are also signatories of TIE's (Tax information Exchange) programs Etc. So they may have got the funds there but things are changing and some are really having sleepless nights cause regulation is catching up.
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