Edwin Dande deliberately made two funds to confuse investors. One regulated and another one that wasn't..and he knew what he was doing. CMA warned investors about the unregulated one but Dande obviously knew they were vulnerable and enticed them with high but unsustainable yields. Dande, should let those properties to be liquidated and apologise to Kenyans. Nothing else will set him free since many families lost their livelihoods yet still fighting them in court.
Undervaluation of the properties could be the problem but I believe if he could be objective, a solution would have been reached long ago. The guy likes fights and forgets that he's putting unbearable suffering to families who trusted him. Instead of helping them come out of that situation, he puts them even deeper. He took one guy to court just because he dared criticise him (search YouTube). That was disgusting of him to say the least.
In the process of all these..Dande paid himself 18M bonus from the company. The guy should be in jail.
@miamoreazure@ehdande@CytonnInvest@she_weru@liznkukuu@jgnasser A good lawyer who is not after Dande's money in legal fees would have advised him that it's time to let go months ago. Cytonn litigation came to an end when the court of appeal delivered some close to 6 judgments some months ago. This is really the end of the road for Cytton.
Justice Mugambi has now dismissed the application seeking removal of the Official Receiver in the Cytonn liquidation.
@ehdande@CytonnInvest@she_weru@liznkukuu@jgnasser
The Court reaffirmed that:
• The OR is the lawful custodian of The Alma under the Insolvency Act.
• SBM’s secured creditor priority is protected by law.
• The creditors committee was elected by creditors themselves.
• Allegations of bribery, corruption and fabricated minutes were unsupported.
• Removal of a liquidator is a “draconian step” requiring proof — not noise.
The Court sternly directed you surrender the Alma within 7 days and to close your irreverent nonesense the OR to furnishe accounts of which you know there is nothing to report. Those blanks you want will be filed within 45 days. That is supervision. Nothing but to close your open straws and proof how much of a fraudster you are
Another sensational application collapses under scrutiny.
Meanwhile, the insolvency process continues exactly where the Court of Appeal left it: preservation, tracing, realization and pari passu distribution to creditors.
@mirriam12271@miamoreazure@ehdande@Ndonglaw043 The only setback was that the court did not punish the contemptor with a jail term for disregarding court orders.
But very soon, he will have date with his jailer.
BREAKING: President William Ruto once again avoids addressing the high fuel prices crushing ordinary Kenyans.
Instead, he talked about title deeds, unfounded claims about Wandetoh (fake news), and politics.
Not a word on the cost of living.
Not a word on transport fares.
Not a word on the suffering wananchi are facing daily.
That should tell you everything: this government no longer feels your pain.
And by the way, THIS is what should be leading the headlines tonight.
But don’t be surprised if the media focuses on side shows instead. Reject Fuel prices.