Kenyans lose millions in scheme that promised five times profit.
In Rongai, Kenyans lose millions in scheme that promised five times profit.
The Rongai residents stated that the credit company opened a branch in Rongai Town in 2021 under the name savings and credit cooperative company.
It lured the residents into opening savings accounts with the promise of offering them cheap loans and profits five times their deposits.
One of the victims reported that the company was offering convenient terms and conditions for them to invest there.
The residents reported,”The company came up and told us to save and promised to give back up to three times of the savings back.”
However, the company suddenly closed down, getting away with millions of money from their customers.
The residents stated that they have tried to seek justice and tracing of the company, but their efforts were futile.
Residents stated,”We reported the matter to the DCI, but every time we turn to them they insist that they are still following up.
The victims have pleaded with the president, William Ruto to come to their rescue for justice to be served.
One victim said,”This a criminal who has been stealing in your ‘name’, we want action to be taken and not just aiding us to recover our money.”
In line with that, schemes of defrauding Kenyans have been witnessed before.
In 2021, the Sacco Societies Regulatory authority (SASRA) established the Sacco Society Fraud investigation unit (SSFIU) to help in investigating cases of fraud related to Saccos.