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{
    "id": 49189,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/49189/?format=api",
    "text_counter": 103,
    "type": "speech",
    "speaker_name": "Dr. Oburu",
    "speaker_title": "",
    "speaker": {
        "id": 194,
        "legal_name": "Oburu Ngona Odinga",
        "slug": "oburu-odinga"
    },
    "content": "Mr. Speaker, Sir, as I stated before while answering this Question, these pyramid schemes were illegal. These schemes were crafted by very clever people who wanted to defraud members of the public. They were not under the supervision of the CBK. The CBK supervises only those institutions registered under it, which include banks and deposit-taking micro-finance institutions. These were illegal schemes which do not fall under the purview of the CBK and, therefore, we could not have taken action against them. However, it is a very serious matter which, as a Government, we are taking very seriously. Because of this we are taking action. We have drafted a Bill which we shall be tabling before this House to make pyramid schemes illegal, so that these crafty people do not continue to defraud members of the public in this manner."
}