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Chase Bank loss...another case of cooking the books?
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MaichBlack
#311 Posted : Friday, April 08, 2016 5:32:22 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,882
maka wrote:
Swenani wrote:
Othelo wrote:
There is nothing reckless on being told to be alert. It is reckless until you lose your lifetime savings. Let there be fear so that whenever there is cooking of figures, creative accounting or misuse of vested authority, the actors know the consequences. Spread the fear so that authorities can aslo act in the right/proper way and on time.

I watched that lady outside chase bank crying about her 50k FDR. That is small change to many, but lifeline to her.

Sad Sad Sad


How do people sleep at night peacefully with full knowledge that they have shattered someones business,dreams, family, relationships hardwork etc?



Heartless bastards...they care about nothing.

We need legal public executions after all their properties home and abroad have been auctioned to cover the losses! These fellows make me sick!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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murchr
#312 Posted : Friday, April 08, 2016 5:35:38 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Chase Bank Kenya's shareholders have deep pockets. The Bank will definately get out of this mess.

    1 Rinascimento Global Limited 15.9
    2 Shegas Limited 13.9
    3 Balst Investment Holdings Limited 11.2
    4 Amethis Finance of France 10.9
    5 Festuca Investments Limited 9.3
    6 German Investment Corporation (DEG)[10] 6.6
    7 Carlo Van Wageningen 6.5
    8 ESOP 4.3
    9 Responsability investments / ResponsAbility Participations AG 3.4
    10 Namaja Investments Limited 3.0
    11 Other Local & International Investors 15.0


From their websites:

Quote:
After decades of successful investments in Africa both in debt and equity, Amethis’ founders, Luc Rigouzzo and Laurent Demey, previously CEO and Deputy CEO of Proparco, the French Development Financial Institution, partnered with Edmond de Rothschild Private Equity to create in 2012 an investment fund entirely dedicated to long-term responsible financing in Africa.


Quote:
DEG is a subsidiary of The KfW, formerly KfW Bankengruppe (banking group), a German government-owned development bank, based in Frankfurt.


Quote:
ResponsAbility Investments AG is one of the world’s leading asset managers in the field of development investments and offers professionally-managed investment solutions to both private and institutional investors.


One thing is for sure, big money will not let these criminals walk free
"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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watesh
#313 Posted : Friday, April 08, 2016 5:46:02 PM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya

Thats one sacco into problems
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Othelo
#314 Posted : Friday, April 08, 2016 6:16:00 PM
Rank: User

Joined: 1/20/2014
Posts: 3,528
murchr wrote:
Chase Bank Kenya's shareholders have deep pockets. The Bank will definately get out of this mess.


    1 Rinascimento Global Limited 15.9
    2 Shegas Limited 13.9
    3 Balst Investment Holdings Limited 11.2
    4 Amethis Finance of France 10.9
    5 Festuca Investments Limited 9.3
    6 German Investment Corporation (DEG)[10] 6.6
    7 Carlo Van Wageningen 6.5
    8 ESOP 4.3
    9 Responsability investments / ResponsAbility Participations AG 3.4
    10 Namaja Investments Limited 3.0
    11 Other Local & International Investors 15.0



Where were they all these serious guys when things were going heywire?
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Impunity
#315 Posted : Friday, April 08, 2016 7:28:44 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
Bachuma Gate wrote:
I second maka. It used to happen in Brazil in the 80s. Victims decided to go after the bastards whether Mp; CEO; Director; Your business is Petro bombed; boycotted; your car smeared with sheet; cabbage throw in front of your house; name it.

One sad incident a CEOs child's figure was chopped off to remind the dad everday of what he did to other families children.


FINGA
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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gk
#316 Posted : Friday, April 08, 2016 7:46:42 PM
Rank: Member

Joined: 5/17/2008
Posts: 489
watesh wrote:

Thats one sacco into problems


Is it ignorance or poor grasp of what receivership entails? The money may not be accessible for now but its not lost.
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murchr
#317 Posted : Friday, April 08, 2016 7:50:10 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
gk wrote:
watesh wrote:

Thats one sacco into problems


Is it ignorance or poor grasp of what receivership entails? The money may not be accessible for now but its not lost.

"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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alma1
#318 Posted : Friday, April 08, 2016 7:50:49 PM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
i think there's a way to redeem this bank.

As Murchr has suggested the shareholders are not the usual ones we know about. If they first prosecute these fellows in a hurry and quick hurry and explain exactly what happened, they could survive. Especially if it involves grabbing the properties of the two crooks and their minions.

I feel very bad for SME's. The customer support from the guys working here was just as good as any American bank I knew of. And they seriously loved their work.

Thieves are not good people. Tumeelewana?
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enyands
#319 Posted : Friday, April 08, 2016 7:57:46 PM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
alma1 wrote:
i think there's a way to redeem this bank.

As Murchr has suggested the shareholders are not the usual ones we know about. If they first prosecute these fellows in a hurry and quick hurry and explain exactly what happened, they could survive. Especially if it involves grabbing the properties of the two crooks and their minions.

I feel very bad for SME's. The customer support from the guys working here was just as good as any American bank I knew of. And they seriously loved their work.




We need tips from your diaspora banks jameni.some banks treat us like we are here to steal their money Laughing out loudly
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alma1
#320 Posted : Friday, April 08, 2016 8:01:40 PM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
enyands wrote:
alma1 wrote:
i think there's a way to redeem this bank.

As Murchr has suggested the shareholders are not the usual ones we know about. If they first prosecute these fellows in a hurry and quick hurry and explain exactly what happened, they could survive. Especially if it involves grabbing the properties of the two crooks and their minions.

I feel very bad for SME's. The customer support from the guys working here was just as good as any American bank I knew of. And they seriously loved their work.




We need tips from your diaspora banks jameni.some banks treat us like we are here to steal their money Laughing out loudly


You try and walk into KCB or National and understand why business people are a frustrated lot.

The only people happy with these banks are the employees who get a salary then an ATM card. Small Business people never get a hearing from the so called "good" banks.

Shame really, that some fool could decide to go buy a kabroti in Karen instead of doing his work. Very shameful really. And the fellows have children. Totally shameful.

Now guys are being forced to go back to the neanderthals in Barclays and Standard Chartered.
Thieves are not good people. Tumeelewana?
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