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Cytonn Investments
Rank: Elder Joined: 12/2/2009 Posts: 2,458 Location: Nairobi
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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. paulkimani wrote:A kind reminder to all the new lurkers now that the news has broken in the mainstream media, that Cytonn is indeed a scam, a ponzi. 6 years too late, but better late than never.
The four who started Cytonn were:
Edwin Dande
Patricia Wanjama
Shiv Arora
Elizabeth Nkuku
Another kind reminder, they were the brains behind conning Kenyans of their lives.
Another kind reminder, Superior Homes was bought by Cytonn and Shiv Arora is now their CEO. Please connect the dots yourselves.
To those who wish to contact me,
Let me know
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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Ebenyo wrote:CMA should help investors who have lost their money. Guys like @paulkimani have been warning people for years. How old is this thread? How can CMA help anyway unless money was pilfered and can be traced? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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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. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Rollout wrote:sparkly wrote:paulkimani wrote:A kind reminder to all the new lurkers now that the news has broken in the mainstream media, that Cytonn is indeed a scam, a ponzi. 6 years too late, but better late than never.
The four who started Cytonn were:
Edwin Dande
Patricia Wanjama
Shiv Arora
Elizabeth Nkuku
Another kind reminder, they were the brains behind conning Kenyans of their lives.
Another kind reminder, Superior Homes was bought by Cytonn and Shiv Arora is now their CEO. Please connect the dots yourselves.
To those who wish to contact me,
Let me know Ata wewe ni mjinga. It can't be a ponzi if they have real estate projects. Bad investment yes, ponzi no. Majority of Ponzi don't really start as Ponzi but they turn Ponzi once founders finds out that the business model doesn't work but due to some reasons e.g. egos, agency problem or escalation bias, they start misleading investors in order to continue sustaining the story and collecting more capital, sometimes key principals don't even know they are in a Ponzi scheme. In fact, the founders most of the time keep collecting more capital in hope of turning around and making the concept legitimate. I don't think Cytonn guys started this with intentions of defrauding their investors but once they start misleading them in order to rope them in then that's when it turn Ponzi I think someone who worked for Lehman brothers would know they are running a Ponzi "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
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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VituVingiSana wrote: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. possunt quia posse videntur
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Rank: Elder Joined: 12/2/2009 Posts: 2,458 Location: Nairobi
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You have come round nicely. acknowledging Cytonn are not a Ponzi or into any wrong business. Just the normal ups and downs of external forces. You also pamper Paul instead of telling him the damn truth. He is a scare monger. Finally. It is very common knowledge that most, if not all Fund managers have private investment products, all legal but not regulated by CMA. Some have made billions of losses.... But you never hear CMA making statements about them. WHY??? VituVingiSana wrote: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.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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poundfoolish wrote:You have come round nicely. acknowledging Cytonn are not a Ponzi or into any wrong business. Just the normal ups and downs of external forces. You also pamper Paul instead of telling him the damn truth. He is a scare monger. Finally. It is very common knowledge that most, if not all Fund managers have private investment products, all legal but not regulated by CMA. Some have made billions of losses.... But you never hear CMA making statements about them. WHY??? VituVingiSana wrote: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. VVS was being very polite...🙂 possunt quia posse videntur
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Rank: Veteran Joined: 7/5/2010 Posts: 2,061 Location: Nairobi
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VituVingiSana wrote: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. Take? Hehehe. I am afraid its not that simple (from what I have heard). The apartments are valued north of 10 million, and to convert, you have to top up the difference. So lets say you gave Cytonn 2 million and you are in dire straits already, where are you supposed to get the money to top up?
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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poundfoolish wrote:You have come round nicely. acknowledging Cytonn are not a Ponzi or into any wrong business. Just the normal ups and downs of external forces. You also pamper Paul instead of telling him the damn truth. He is a scare monger. Finally. It is very common knowledge that most, if not all Fund managers have private investment products, all legal but not regulated by CMA. Some have made billions of losses.... But you never hear CMA making statements about them. WHY??? VituVingiSana wrote: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. 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. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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quicksand wrote:VituVingiSana wrote: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. Take? Hehehe. I am afraid its not that simple (from what I have heard). The apartments are valued north of 10 million, and to convert, you have to top up the difference. So lets say you gave Cytonn 2 million and you are in dire straits already, where are you supposed to get the money to top up? No idea about this. You do have a point though so perhaps those with 10mn in CHYS can take a unit. Or 2 people with 5mn each can do so. Better to leave with a unit than be stuck in the hamster wheel for another 2-3 years if you are lucky. BTW, I passed by Two Rivers and they have equipment/works on the "Mizizi" site which is affordable housing. The pricing (check Centum's website) is competitive with Ruaka but within Two Rivers with the amenities. So sales of Alma, etc is going to face competition. Back to my popcorn! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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