Sign in
Download Opera News App

News Society


Crime Justice



Another Pyramid Scheme? Kenyans Lose Millions In Syndicate That Promised Five Times Profit

Rongai Town residents have voiced their displeasure with a credit company that they claim defrauded them of millions of shillings.

The locals claim that the business opened a branch in Rongai Town at the end of 2021 and then used the promise of cheap loans and profits five times their deposits to entice people into opening savings accounts.

The victims claimed that the favorable terms of the aforementioned savings and credit cooperative company (Sacco) enticed them.

The Sacco further pledged to improve the plight of the stricken residents by employing its alleged "bottom-up economic model," which it took from the campaigns of the Kenya Kwanza Coalition.

However, when the company shut down operations in Rongai Town, the locals were met with a rude shock.

The victims claimed that the police's sluggish response stymied their efforts to seek justice.The residents say that they reported the problem to the Directorate of Criminal Investigations (DCI), but they didn't do much to solve the mystery.

The victims claim that the company has a long history of controversy stemming from previous complaints.They requested President William Ruto's assistance in pursuing justice.

Content created and supplied by: KrimeAnalyst (via Opera News )

Kenya Kwanza Coalition Kenyans Pyramid Scheme Rongai Town Sacco


Load app to read more comments