More than 1,00 investors who put their live savings in the defunct Cytonn Investments have cried out for justice, calling for government agencies including the Directorate of Criminal Investigation (DCI) and the Judiciary to help them get their money back.
Led by one of the investors who has been vocal about the issue, Captain J.B Matheka, who also invested millions in Cytonn Investments, the investors have decried the slow process of the justice system that has left the CEO of Cytonn, Edwin Dande, to feel he is above the law.
“All we want is our money from Cytonn Investments. Edwin Dande has clarified that he is not willing to pay back our money. For years, he has been using the justice system to delay the efforts of investors to get their money back. We are suffering and some of us have lost hope,” said Captain Matheka.
According to the investors, Mr. Dande has been blocking the liquidation of the company despite court orders to do so so that investors can get their cash back. They say Dande continues to use their investments to enrich himself as they suffer and uses the proceeds to frustrate them through the courts.
“So many investors have sunk into depression. Some who took all their pension and invested into Cytonn have been left without any coin after they were swindled. This was a fraud from the first day. At least 2 investors have died out of depression, one had invested 45 million shillings into this company. Why has the justice system allowed Edwin to walk scot-free?” he added.
At the same time, the investors are blaming Dande for trying to frustrate Superior Homes’ efforts to try and save the investors by paying them part of what Cytonn owes them. Cytonn took part of the investment and bought shares in Superior Homes. The investors have been pushing for Superior Homes to use the shares Cytonn owns to pay them their money.
They say Edwin is planning to use the legal system to frustrate Superior Homes’ efforts to pay them part of their money. “He has discovered loopholes in the Kenyan judiciary that make him delay his dark dealings coming to the surface. All we want is our money back.”
