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{
    "id": 195588,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/195588/?format=api",
    "text_counter": 65,
    "type": "speech",
    "speaker_name": "Mr. Linturi",
    "speaker_title": "",
    "speaker": {
        "id": 69,
        "legal_name": "Franklin Mithika Linturi",
        "slug": "franklin-linturi"
    },
    "content": "Mr. Speaker, Sir, I am saddened by the answer. The hon. Assistant Minister has admitted that he is aware that Kenyans lost a lot of money through the so-called \"pyramid schemes\". The basic meaning of the word \"bank\" is that, it is an institution that collects and lends money to the public. These institutions have been operating in this country. Some like Deci and Clip have been in existence for the last four years. The Central Bank of Kenya Banking Fraud Investigation Department has also gone to the 714 PARLIAMENTARY DEBATES April 29, 2008 extent of freezing accounts of some of the promoters of the pyramid schemes. Now that these outfits, for all intents and purposes, operated within the basic understanding of the word \"bank\", why did the Government not raise the red flag and why has the Government, through the Central Bank of Kenya, not apportioned the money that was frozen in various bank accounts to the people who lost money, if they clearly know that those people who are supposed to repay the money are the promoters of these schemes?"
}