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{
    "id": 1341735,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1341735/?format=api",
    "text_counter": 338,
    "type": "speech",
    "speaker_name": "Turbo, UDA",
    "speaker_title": "Hon. Janet Sitienei",
    "speaker": null,
    "content": "The Cytonn Investments Management continues to engage in extremely aggressive advertising and marketing using words, statements and phrases that could entice and lure unsuspecting Kenyans into buying or taking up the products as advertised and marketed without sufficient notice and information, contrary to consumer protection laws. We request the CMA to fast-track alternative fund regulations for private markets to seal loopholes by rogue operators in order to protect unsuspecting citizens from losing their money or hard-earned investments. We recommend that the Chief Executive Officer (CEO) of Cytonn Investments Management, Mr. Edwin Harold Dayan Dande, be held personally liable for the loss of investors’ money and mismanagement. Therefore, he should secure timely refund of investors and/or depositors’ money. The Directorate of Criminal Investigations (DCI) should undertake thorough investigations into the affairs and matters raised by the Petitioners and proffer criminal prosecution against any person found culpable. He should also investigate the relationship between Cytonn Investments Management and the CMA between 2015 and 2021. He should also investigate the business dealings of the 49 special purpose vehicles (SPVs), including their assets and liabilities. He should also investigate the dealings of the CEO, and his assets and liabilities so that he can bring to book any person who is culpable for investor losses."
}