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{
    "id": 1299056,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1299056/?format=api",
    "text_counter": 263,
    "type": "speech",
    "speaker_name": "Alego Usonga, ODM",
    "speaker_title": "Hon. Samuel Atandi",
    "speaker": null,
    "content": " This is a very serious Petition and the first on the Floor of this House since the start of this session. The Reports of this House must mean business to Kenyans. We cannot be a House that makes reports, and they are not acted upon. This company called Cytonn High Yields Solution Platform is notorious for conning Kenyans. For the benefit of Members, when I brought the Petition before this House, I was taken to court by the company because of the statements I made during public participation. In my assessment, the activities of this company are akin to what pyramid schemes do. I thank the Judiciary because the magistrate who listened to the case threw it out. This company has operated for a long time in this country. All they do is invite you to invest some money with them, promising high returns. Once you invest your money in the company, it is transferred to several other companies. They call them their special-purpose vehicles. By the time you go back for your money, you are told it was transferred to a different company that does not have directors. You begin to look for your money plus the promised returns, but you cannot get it. It is important to note that the activities of this company have led to the death of many Kenyans. We listened to some who said they invested their retirement savings in this company, but did not get their returns. There are many Kenyans who have committed suicide, and many families are broken because a wife took money and invested it without consulting her husband. When the money was needed, it was not there. I listened to a case where a retiree who had invested his money was very sick and needed it for treatment. The deposits were supposed to have matured then, but Cytonn High Yields Solution Platform said they had no money. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}