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{
    "id": 315110,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/315110/?format=api",
    "text_counter": 266,
    "type": "other",
    "speaker_name": "",
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    "speaker": null,
    "content": "have been robbed of their property and any other incomes like money, land and as he said, some of them even sold animals in order to invest in these schemes. Mr. Temporary Deputy Speaker, Sir, I remember way back in 1985 where one of these schemes was called Collective Resources and they were operating in an office around Jeevanjee Gardens and they robbed people lots of money and the moment people discovered that they were being robbed of their money, they simply closed the office and again went and opened another office elsewhere and merely changed their name but they did the same business of pyramid schemes. As a result, many poor people who emotionally feel that they will improve their lives by investing whatever monies they have are robbed of this money and they become poor instead of becoming what they imagined they would become. So, they ended up being frustrated and some people even ended up committing suicide. Some families even broke up because maybe one person invested in these schemes without the knowledge of their partners, and eventually when they discovered that their money had been lost, they got extremely frustrated. Therefore, it is important that we pass this Bill, so that we can protect mwananchi from these unscrupulous people whose aim is merely to rob Kenyans of their money without appreciating the fact that some of these people who invest in these schemes are poor. Some people even closed their businesses. I remember three or four people in my constituency who had invested in these schemes closed their businesses; they took there the money hoping that they were going to triple it but lost it in the end. So, their businesses closed down and are now suffering today. They cannot even take their children to good schools, which they used to take them to. It is important that we pass this Bill, so that we can protect Kenyans from future exploitation by such people. With those few remarks, I support."
}