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{
    "id": 315116,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/315116/?format=api",
    "text_counter": 272,
    "type": "speech",
    "speaker_name": "Mr. Chanzu",
    "speaker_title": "",
    "speaker": {
        "id": 11,
        "legal_name": "Yusuf Kifuma Chanzu",
        "slug": "yusuf-chanzu"
    },
    "content": "Mr. Temporary Deputy Speaker, Sir, I rise to support this very important Bill. I want to congratulate my brother Dr. Khalwale for proving that he is interested in the welfare of the poor and the less fortunate. I also want to commend the team that was set up by the Government. This is the Francis Nyenze team. They came up with a wonderful report which was presented to the Minister for Co-operatives Development and Marketing, Mr. Joseph Nyagah, on 24th June, 2009. I see that this report has all the basic information that the Government would have used to deal with this situation. This is done through deceit. When I look at the Bill, it provides for offences in relation to pyramid schemes. It says:- “a person commits an offence if he or she participates in a pyramid scheme and induces or tries to induce another person to participate in the scheme unknowingly knowing that any benefit gained from that participation is entirely from the introduction to the scheme of new participants.” The maximum penalty for both offences is a fine of Kshs10 million or imprisonment for ten years or both. Mr. Temporary Deputy Speaker, Sir, in my constituency Vihiga, old mamas, the poor and the small savers, lost money to the tune of about Kshs40 million or more through these schemes or this kind of deceit by the promoters and perpetrators of these schemes. The report says that in addition to the directors and advocates invited for interviews, the task force contacted the following persons to appear before it:- 1. National Pyramid Schemes Initiative Victims Representatives; they appeared in person; 2. Mount Kenya Pyramid Scheme Initiative Victims Representatives also appeared in person; 3. Mr. Njeru Ndwiga, former Minister for Co-operative Development and Marketing failed to appear; 4. Mr. Andrew Ligale, who alleged to have promoted DECI, also failed to appear; 5. Bishop Sibaleka, director of ACID, failed to appear;"
}