By The Weekly Vision Team
Investors whose money is trapped in the financially struggling Cytonn Investments accused a senior official of the firm of frustrating their efforts to claim their finances. The investors have expressed their concern that they are on the verge of losing investments worth millions of shillings should the company be liquidated.
The investors claimed that a senior official of Cytonn who has been running a one-man show since the company encountered headwinds is behind their woes, which have degenerated into court cases. One of the investors, who initially invested a total of Ksh 15 million, which has since grown to Ksh 44 million, claims that the Cytonn leadership has mastered the art of running to the courts to obtain orders blocking investors from claiming their dues from the company.
He noted that with the court injunctions in place, some of which have overstayed the legal timelines of six months, other government agencies that the investors have turned to, to have the issue resolved have been inhibited from swinging into action.
“Government entities, if there’s a court order or there’s an issue pending in court about any matter, they will not do anything. They will just wait for the orders to be vacated,” he said. Investors are now pegging their hope on the newly appointed Attorney General Dorcas Oduor to pull them out of the quagmire.
