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{
    "id": 315067,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/315067/?format=api",
    "text_counter": 223,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "through these pyramid schemes. This Bill is good in terms of prohibiting the pyramid schemes. These schemes came in different forms and names. As mentioned by Dr. Bonnie, there was one called Deci Global. Others were; Clip Investments, Magnet, Sasanet and so many others. I want to believe that before they operated in this country, they were registered by the Government. Their operations at that time were not illegal because they were registered by this Government. Mr. Temporary Deputy Speaker, Sir, as moved by Dr. Bonnie, there was a task force by the Ministry of Co-operative Development and Marketing. They came up with a report and its recommendations to date are yet to be implemented. There was also a parliamentary report by one of our committees in this House which came up with recommendations but the Government has refused to act on these recommendations. I want to believe that by supporting this Bill, we shall put to an end the issue of pyramid schemes in this country and never again will Kenyans loss their money through these kinds of businesses. You can imagine the pain many of the people who lost their money went through. I have just mentioned that over Kshs40 million was lost in Baringo and Elgeyo Marakwet counties. These people are retirees. They thought they were going to invest their pensions in these pyramid schemes but eventually, they lost. I have been informed that many of them even died out of shock because of this kind of loss. I want to support this Bill and say that the perpetrators of this scheme should be jailed. These people are known. Their names and operations are known by the Government. Sometimes as laymen we ask ourselves: “Is the Government benefitting from these schemes?” If the NSIS and the Ministry of State for Provincial Administration and Internal Security are doing their work, then they know the perpetrators of these schemes. If the Government fails to act, then we will have nothing to say other than these people are known and the beneficiaries could be some of the Ministers in the Government. Finally, Clause 5 of this Bill provides for offences in relation to pyramid schemes. I want to believe that from today henceforth, once this Bill is enacted, those who will participate in the pyramid schemes will be committing an offence and they will be liable to prosecution. I want to believe that from today henceforth, Kenyans will not lose their money though these illegal schemes. With those few remarks, I beg to support this Bill."
}