Don’t threaten me Tony Stark.

Last Saturday, Dande was seated in a boardroom with two assistants facing a slew of questions from over 450 investors over the internet, many of whom wanted out.

Thirteen of them including Kenneth Maweu Kasinga from Nakuru had gone to court and sued both Cytonn and CMA claiming Cytonn has defaulted on his Sh3 million investment that was to mature on September 7.

“The 1st defendant’s statement that it gives no assurance that it will pay the amount invested upon maturity is worrying and I stand to suffer irreparable loss if the orders sought are not granted,” said Kasinga.

The court documents also indicate that the investor was promised an attractive 19 per cent return on investment which CMA said is unrealistic in this market.

Dande said Cytonn was forced to liquidate its positions in money market investments and real estate projects last week to pay off investors after CMA sounded an alarm of Cytonn defaulting on more than Sh122 million in mature investments.

“We have put assets on sale to get that cash, we have sold off real estate projects including Westlands 22 and liquidated positions in money market funds to pay off investors who demanded their money back, especially Friday.”

“We have also paused projects that require long-term funding to improve liquidity, we are doing everything we can to be able to refund your money,” Dande told investors in the virtual meeting.

When Celestine Olilo asked to know why her money was rolled over without her consent and yet she needed the money due to the Covid-19 pandemic she was told: “This is a pooled investment, paying everyone would result in more losses.”

The investors were also asking about the delay in interest payments. Dande, however, said the interest payments will be capitalised and paid after 12 months. He said that investors should not go to CMA, saying the regulator will not help them.

“People who invested in Uchumi or Mumias were never helped by the regulator, it is the integrity of the fund manager, the investment strategy and the assets invested in that matter.”

Don’t threaten me Tony Stark.

Cytonn’s in-house lawyer, Patricia Wanjama – as well as being enjoined in the Britam suit – is being investigated by the LSK disciplinary committee. Her own father sits on the board of the LSK disciplinary committee, and Cytonn also now sponsors the LSK - as stated on the LSK website.


Many companies and individuals are creating real estate deals much larger than Cytonn – which begs the question – why is the media focusing on Cytonn (see BD article on Cytonn “Causing a storm” in the real estate market) – Are they “sponsoring” the media also?

I understand Horton did not approve of this comment on a previous thread as I am a “Hello”, however these are indeed important questions to ask before investing your money with anyone. Yes, I am new to this – I am also aware that if you invest, you must do so having conducted the necessary due diligence to ensure your investment is in safe and clean hands.
I’d be interested to read other people’s opinions on this forum.

You joined on 19th January 2016 and that there, what I have quoted, on 21st January 2016 was your first post.
You have kept the thread going for 5 years. 56 pages later and 1,072 posts on how the company is going down.

I have to give it to you on consistency. May your next paymaster be as generous and persistent

Lots of respect for @paulkimani. Reminds me of KQ, after 2012, and the constant abuse anyone who said anything that wasn't praising KQ took... Perhaps some of us may have thought of investing in Cytonn but lucked out thanks to PK

You have nailed it.