http://www.nation.co.ke/magazines/smartcompany/-/1226/802476/-/item/0/-/jtf8... Anyone saving at Old Mutual ? I know its non-techy but i feel that we should be fore warned. I saved quite an amount with Old Mutual and later realized that something is wrong. I saved for like two years and everytime I called - they said that you keep saving and fruits will be seen after 5 or more years. A lawyer looked at the policy document and decided that it was absolutely wak ! There were no promises to uphold the contract, terminate or protect your investment, as promised by word of mouth. I tried to quit - then they would tell you one thing by mouth as how to "gracefully" exit - in terms you find acceptable by mouth - but when it came to paper work, they did calculations that lost me over 50% of my savings. If you know anyone in these "investments schemes" or you are in one yourself with Old mutual, be ware. Read on: DAILY NATION <http://www.nation.co.ke/-/1148/1148/-/xvvu7uz/-/index.html> Magazines<http://www.nation.co.ke/magazines/-/1190/1190/-/an2pnnz/-/index.html>Smart Company<http://www.nation.co.ke/magazines/smartcompany/-/1226/1226/-/8vkm42/-/index.html> Smart Company Fraud fears at Old Mutual Controversy and a veil of secrecy have clouded investigations at Old Mutual Asset Managers over financial irregularities committed by some of its employees. This is likely to put the firm on the spot, as the market has become hyper-cautious of irregularities on the part of those trusted with investor funds. Although the magnitude of the irregularities is yet to be made public, the level of those involved could be a pointer. Late last week information indicated that the suspended staff included a manager in finance and officials at different levels.
On Tue, Nov 24, 2009 at 9:48 AM, ndungu stephen <ndungustephen@gmail.com>wrote:
A lawyer looked at the policy document and decided that it was absolutely wak ! There were no promises to uphold the contract, terminate or protect your investment,
as promised by word of mouth.
I tried to quit - then they would tell you one thing by mouth as how to "gracefully" exit - in terms you find acceptable by mouth - but when it came to paper work, they did calculations that lost me over 50% of my savings.
If you know anyone in these "investments schemes" or you are in one yourself with Old mutual, be ware.
@Ndungu, whoaa! poolay for loosing out on hard earned savings. :-( And thanks for sharing the info. Though I'm not with them I know of friends who are, will pass on the info.
Thanks for sharing, sorry for the experience. It's always good for a lawyer to look into any important doc one signs. --- On Tue, 11/24/09, aki <aki275@googlemail.com> wrote: From: aki <aki275@googlemail.com> Subject: Re: [Skunkworks] On investments: Fraud Investigations at Old Mutual To: "Skunkworks Forum" <skunkworks@lists.my.co.ke> Date: Tuesday, November 24, 2009, 9:04 AM On Tue, Nov 24, 2009 at 9:48 AM, ndungu stephen <ndungustephen@gmail.com> wrote: A lawyer looked at the policy document and decided that it was absolutely wak ! There were no promises to uphold the contract, terminate or protect your investment, as promised by word of mouth. I tried to quit - then they would tell you one thing by mouth as how to "gracefully" exit - in terms you find acceptable by mouth - but when it came to paper work, they did calculations that lost me over 50% of my savings. If you know anyone in these "investments schemes" or you are in one yourself with Old mutual, be ware. @Ndungu, whoaa! poolay for loosing out on hard earned savings. :-( And thanks for sharing the info. Though I'm not with them I know of friends who are, will pass on the info. -----Inline Attachment Follows----- _______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
I had the same experience in 2007 when I asked to withdraw since they never kept any promises they had on paper, and I got back about 55% of what I had saved for a 3 year period. Decided to count my loses and start afresh - pole sana, you are not alone, and those who havent jumped in, please don't ./Ok3ch On Tue, Nov 24, 2009 at 10:20 AM, wesley kirinya <kiriinya2000@yahoo.com>wrote:
Thanks for sharing, sorry for the experience. It's always good for a lawyer to look into any important doc one signs.
--- On *Tue, 11/24/09, aki <aki275@googlemail.com>* wrote:
From: aki <aki275@googlemail.com> Subject: Re: [Skunkworks] On investments: Fraud Investigations at Old Mutual To: "Skunkworks Forum" <skunkworks@lists.my.co.ke> Date: Tuesday, November 24, 2009, 9:04 AM
On Tue, Nov 24, 2009 at 9:48 AM, ndungu stephen <ndungustephen@gmail.com<http://mc/compose?to=ndungustephen@gmail.com>
wrote:
A lawyer looked at the policy document and decided that it was absolutely wak ! There were no promises to uphold the contract, terminate or protect your investment,
as promised by word of mouth.
I tried to quit - then they would tell you one thing by mouth as how to "gracefully" exit - in terms you find acceptable by mouth - but when it came to paper work, they did calculations that lost me over 50% of my savings.
If you know anyone in these "investments schemes" or you are in one yourself with Old mutual, be ware.
@Ndungu, whoaa! poolay for loosing out on hard earned savings. :-(
And thanks for sharing the info. Though I'm not with them I know of friends who are, will pass on the info.
-----Inline Attachment Follows-----
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke <http://mc/compose?to=Skunkworks@lists.my.co.ke> http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
Interesting read: http://www.realestateweb.co.za/realestateweb/view/realestateweb/en/page319?o... <http://www.realestateweb.co.za/realestateweb/view/realestateweb/en/page319?oid=44801&sn=Detail> ./bernard On Tue, Nov 24, 2009 at 3:34 PM, Okechukwu <okechukwu@gmail.com> wrote:
I had the same experience in 2007 when I asked to withdraw since they never kept any promises they had on paper, and I got back about 55% of what I had saved for a 3 year period. Decided to count my loses and start afresh - pole sana, you are not alone, and those who havent jumped in, please don't
./Ok3ch
On Tue, Nov 24, 2009 at 10:20 AM, wesley kirinya <kiriinya2000@yahoo.com>wrote:
Thanks for sharing, sorry for the experience. It's always good for a lawyer to look into any important doc one signs.
--- On *Tue, 11/24/09, aki <aki275@googlemail.com>* wrote:
From: aki <aki275@googlemail.com> Subject: Re: [Skunkworks] On investments: Fraud Investigations at Old Mutual To: "Skunkworks Forum" <skunkworks@lists.my.co.ke> Date: Tuesday, November 24, 2009, 9:04 AM
On Tue, Nov 24, 2009 at 9:48 AM, ndungu stephen <ndungustephen@gmail.com<http://mc/compose?to=ndungustephen@gmail.com>
wrote:
A lawyer looked at the policy document and decided that it was absolutely wak ! There were no promises to uphold the contract, terminate or protect your investment,
as promised by word of mouth.
I tried to quit - then they would tell you one thing by mouth as how to "gracefully" exit - in terms you find acceptable by mouth - but when it came to paper work, they did calculations that lost me over 50% of my savings.
If you know anyone in these "investments schemes" or you are in one yourself with Old mutual, be ware.
@Ndungu, whoaa! poolay for loosing out on hard earned savings. :-(
And thanks for sharing the info. Though I'm not with them I know of friends who are, will pass on the info.
-----Inline Attachment Follows-----
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke<http://mc/compose?to=Skunkworks@lists.my.co.ke> http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
wow you guys are killing me now what am i gonna do about my savings? On Tue, Nov 24, 2009 at 3:47 PM, Bernard Mwagiru <bmwagiru@gmail.com> wrote:
Interesting read:
http://www.realestateweb.co.za/realestateweb/view/realestateweb/en/page319?o...
<http://www.realestateweb.co.za/realestateweb/view/realestateweb/en/page319?oid=44801&sn=Detail> ./bernard
On Tue, Nov 24, 2009 at 3:34 PM, Okechukwu <okechukwu@gmail.com> wrote:
I had the same experience in 2007 when I asked to withdraw since they never kept any promises they had on paper, and I got back about 55% of what I had saved for a 3 year period. Decided to count my loses and start afresh - pole sana, you are not alone, and those who havent jumped in, please don't
./Ok3ch
On Tue, Nov 24, 2009 at 10:20 AM, wesley kirinya <kiriinya2000@yahoo.com>wrote:
Thanks for sharing, sorry for the experience. It's always good for a lawyer to look into any important doc one signs.
--- On *Tue, 11/24/09, aki <aki275@googlemail.com>* wrote:
From: aki <aki275@googlemail.com> Subject: Re: [Skunkworks] On investments: Fraud Investigations at Old Mutual To: "Skunkworks Forum" <skunkworks@lists.my.co.ke> Date: Tuesday, November 24, 2009, 9:04 AM
On Tue, Nov 24, 2009 at 9:48 AM, ndungu stephen <ndungustephen@gmail.com<http://mc/compose?to=ndungustephen@gmail.com>
wrote:
A lawyer looked at the policy document and decided that it was absolutely wak ! There were no promises to uphold the contract, terminate or protect your investment,
as promised by word of mouth.
I tried to quit - then they would tell you one thing by mouth as how to "gracefully" exit - in terms you find acceptable by mouth - but when it came to paper work, they did calculations that lost me over 50% of my savings.
If you know anyone in these "investments schemes" or you are in one yourself with Old mutual, be ware.
@Ndungu, whoaa! poolay for loosing out on hard earned savings. :-(
And thanks for sharing the info. Though I'm not with them I know of friends who are, will pass on the info.
-----Inline Attachment Follows-----
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke<http://mc/compose?to=Skunkworks@lists.my.co.ke> http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
Jacob, If you have been saving for 2 years then its likely that the value of the units trail your contributions but its also likely that you will break even in the 3rd year i.e. the value of the units you are entitled to will be more than your contributions (the percentage return being more than what commercial banks are giving for term deposits). The problem is that most people invest in the short term while these kind of investments are for the long term investors. If you dare touch your chumes in the short run, be prepared to burn. ./bernard On Tue, Nov 24, 2009 at 3:54 PM, Jacob Odada <jacob.odada@gmail.com> wrote:
wow you guys are killing me now what am i gonna do about my savings?
On Tue, Nov 24, 2009 at 3:47 PM, Bernard Mwagiru <bmwagiru@gmail.com>wrote:
Interesting read:
http://www.realestateweb.co.za/realestateweb/view/realestateweb/en/page319?o...
<http://www.realestateweb.co.za/realestateweb/view/realestateweb/en/page319?oid=44801&sn=Detail> ./bernard
On Tue, Nov 24, 2009 at 3:34 PM, Okechukwu <okechukwu@gmail.com> wrote:
I had the same experience in 2007 when I asked to withdraw since they never kept any promises they had on paper, and I got back about 55% of what I had saved for a 3 year period. Decided to count my loses and start afresh - pole sana, you are not alone, and those who havent jumped in, please don't
./Ok3ch
On Tue, Nov 24, 2009 at 10:20 AM, wesley kirinya <kiriinya2000@yahoo.com
wrote:
Thanks for sharing, sorry for the experience. It's always good for a lawyer to look into any important doc one signs.
--- On *Tue, 11/24/09, aki <aki275@googlemail.com>* wrote:
From: aki <aki275@googlemail.com> Subject: Re: [Skunkworks] On investments: Fraud Investigations at Old Mutual To: "Skunkworks Forum" <skunkworks@lists.my.co.ke> Date: Tuesday, November 24, 2009, 9:04 AM
On Tue, Nov 24, 2009 at 9:48 AM, ndungu stephen < ndungustephen@gmail.com <http://mc/compose?to=ndungustephen@gmail.com>>wrote:
A lawyer looked at the policy document and decided that it was absolutely wak ! There were no promises to uphold the contract, terminate or protect your investment,
as promised by word of mouth.
I tried to quit - then they would tell you one thing by mouth as how to "gracefully" exit - in terms you find acceptable by mouth - but when it came to paper work, they did calculations that lost me over 50% of my savings.
If you know anyone in these "investments schemes" or you are in one yourself with Old mutual, be ware.
@Ndungu, whoaa! poolay for loosing out on hard earned savings. :-(
And thanks for sharing the info. Though I'm not with them I know of friends who are, will pass on the info.
-----Inline Attachment Follows-----
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke<http://mc/compose?to=Skunkworks@lists.my.co.ke> http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
Why I really wanted out was that during the time of signing, I had been assured X amount and was told that I will contribute only Y amount per month, but after the first year, I got a letter telling me that my Y per month had to be increased by 10% every year for me to still have my X at the end of the term - and I thought this was outrageous. If I was told this at the time of signing, I would not have a problem, but not after am already in the deep end. Well, I did get what I wanted from CFCLife, and true, its still long term but with better terms. ./Ok3ch On Tue, Nov 24, 2009 at 4:08 PM, Bernard Mwagiru <bmwagiru@gmail.com> wrote:
Jacob, If you have been saving for 2 years then its likely that the value of the units trail your contributions but its also likely that you will break even in the 3rd year i.e. the value of the units you are entitled to will be more than your contributions (the percentage return being more than what commercial banks are giving for term deposits). The problem is that most people invest in the short term while these kind of investments are for the long term investors. If you dare touch your chumes in the short run, be prepared to burn.
./bernard
On Tue, Nov 24, 2009 at 3:54 PM, Jacob Odada <jacob.odada@gmail.com>wrote:
wow you guys are killing me now what am i gonna do about my savings?
On Tue, Nov 24, 2009 at 3:47 PM, Bernard Mwagiru <bmwagiru@gmail.com>wrote:
Interesting read:
http://www.realestateweb.co.za/realestateweb/view/realestateweb/en/page319?o...
./bernard
On Tue, Nov 24, 2009 at 3:34 PM, Okechukwu <okechukwu@gmail.com> wrote:
I had the same experience in 2007 when I asked to withdraw since they never kept any promises they had on paper, and I got back about 55% of what I had saved for a 3 year period. Decided to count my loses and start afresh - pole sana, you are not alone, and those who havent jumped in, please don't
./Ok3ch
On Tue, Nov 24, 2009 at 10:20 AM, wesley kirinya < kiriinya2000@yahoo.com> wrote:
Thanks for sharing, sorry for the experience. It's always good for a lawyer to look into any important doc one signs.
--- On *Tue, 11/24/09, aki <aki275@googlemail.com>* wrote:
From: aki <aki275@googlemail.com> Subject: Re: [Skunkworks] On investments: Fraud Investigations at Old Mutual To: "Skunkworks Forum" <skunkworks@lists.my.co.ke> Date: Tuesday, November 24, 2009, 9:04 AM
On Tue, Nov 24, 2009 at 9:48 AM, ndungu stephen < ndungustephen@gmail.com <http://mc/compose?to=ndungustephen@gmail.com>
wrote:
A lawyer looked at the policy document and decided that it was absolutely wak ! There were no promises to uphold the contract, terminate or protect your investment,
as promised by word of mouth.
I tried to quit - then they would tell you one thing by mouth as how to "gracefully" exit - in terms you find acceptable by mouth - but when it came to paper work, they did calculations that lost me over 50% of my savings.
If you know anyone in these "investments schemes" or you are in one yourself with Old mutual, be ware.
@Ndungu, whoaa! poolay for loosing out on hard earned savings. :-(
And thanks for sharing the info. Though I'm not with them I know of friends who are, will pass on the info.
-----Inline Attachment Follows-----
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke<http://mc/compose?to=Skunkworks@lists.my.co.ke> http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
Sorry to say this and to generalize�.. but be careful of anything that has attachments with the South. They promise too much and deliver very little and they are real tricksters. Okechukwu wrote:
I had the same experience in 2007 when I asked to withdraw since they never kept any promises they had on paper, and I got back about 55% of what I had saved for a 3 year period. Decided to count my loses and start afresh - pole sana, you are not alone, and those who havent jumped in, please don't
./Ok3ch
On Tue, Nov 24, 2009 at 10:20 AM, wesley kirinya <kiriinya2000@yahoo.com <mailto:kiriinya2000@yahoo.com>> wrote:
Thanks for sharing, sorry for the experience. It's always good for a lawyer to look into any important doc one signs.
--- On *Tue, 11/24/09, aki /<aki275@googlemail.com <mailto:aki275@googlemail.com>>/* wrote:
From: aki <aki275@googlemail.com <mailto:aki275@googlemail.com>> Subject: Re: [Skunkworks] On investments: Fraud Investigations at Old Mutual To: "Skunkworks Forum" <skunkworks@lists.my.co.ke <mailto:skunkworks@lists.my.co.ke>> Date: Tuesday, November 24, 2009, 9:04 AM
On Tue, Nov 24, 2009 at 9:48 AM, ndungu stephen <ndungustephen@gmail.com <http://mc/compose?to=ndungustephen@gmail.com>> wrote:
A lawyer looked at the policy document and decided that it was absolutely wak ! There were no promises to uphold the contract, terminate or protect your investment,
as promised by word of mouth.
I tried to quit - then they would tell you one thing by mouth as how to "gracefully" exit - in terms you find acceptable by mouth - but when it came to paper work, they did calculations that lost me over 50% of my savings.
If you know anyone in these "investments schemes" or you are in one yourself with Old mutual, be ware.
@Ndungu, whoaa! poolay for loosing out on hard earned savings. :-( And thanks for sharing the info. Though I'm not with them I know of friends who are, will pass on the info.
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..yes you are right the south are con artist by design, They have taken several hapa kwetu and av seen nothing out of it actually they disappear with even what they found. On Thu, Dec 3, 2009 at 4:19 PM, James Kagwe <kagwejg@gmail.com> wrote:
Sorry to say this and to generalize….. but be careful of anything that has attachments with the South. They promise too much and deliver very little and they are real tricksters.
Okechukwu wrote:
I had the same experience in 2007 when I asked to withdraw since they never kept any promises they had on paper, and I got back about 55% of what I had saved for a 3 year period. Decided to count my loses and start afresh - pole sana, you are not alone, and those who havent jumped in, please don't
./Ok3ch
On Tue, Nov 24, 2009 at 10:20 AM, wesley kirinya <kiriinya2000@yahoo.com<mailto: kiriinya2000@yahoo.com>> wrote:
Thanks for sharing, sorry for the experience. It's always good for a lawyer to look into any important doc one signs.
--- On *Tue, 11/24/09, aki /<aki275@googlemail.com <mailto:aki275@googlemail.com>>/* wrote:
From: aki <aki275@googlemail.com <mailto:aki275@googlemail.com>>
Subject: Re: [Skunkworks] On investments: Fraud Investigations at Old Mutual To: "Skunkworks Forum" <skunkworks@lists.my.co.ke <mailto:skunkworks@lists.my.co.ke>>
Date: Tuesday, November 24, 2009, 9:04 AM
On Tue, Nov 24, 2009 at 9:48 AM, ndungu stephen <ndungustephen@gmail.com <http://mc/compose?to=ndungustephen@gmail.com>> wrote:
A lawyer looked at the policy document and decided that it was absolutely wak ! There were no promises to uphold the contract, terminate or protect your investment,
as promised by word of mouth.
I tried to quit - then they would tell you one thing by mouth as how to "gracefully" exit - in terms you find acceptable by mouth - but when it came to paper work, they did calculations that lost me over 50% of my savings.
If you know anyone in these "investments schemes" or you are in one yourself with Old mutual, be ware.
@Ndungu, whoaa! poolay for loosing out on hard earned savings. :-( And thanks for sharing the info. Though I'm not with them I know of friends who are, will pass on the info.
-----Inline Attachment Follows-----
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http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 <http://my.co.ke/phpbb/viewtopic.php?f=24&t=94> ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke <mailto:Skunkworks@lists.my.co.ke>
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On Tue, Nov 24, 2009 at 9:48 AM, ndungu stephen <ndungustephen@gmail.com> wrote:
http://www.nation.co.ke/magazines/smartcompany/-/1226/802476/-/item/0/-/jtf8...
Anyone saving at Old Mutual ?
Not any more. I got screwed over too, and that was quite some few years back. As soon as I could I exited, losing quite a bit in the process. Moral of the story: If there's fine print, you're screwed, whether you read it or not. Another thing - don't get rushed into anything. You'll notice that slick sales person wants you to sign up right away. See a personal financial advisor and have them go through the document for you before you sign up. Thanks for bringing this to the attention of other potential vics. BR, S -- Sent from my socks®
I'm afraid a personal financial advisor doesn't help either. I had such an advisor with Commercial Bank of Africa (CBA) and I still got defrauded, and this was with offshore investments. The investment advisor was in fact the head of their offshore investments unit. CBA never refunded a single cent, never admitted liability (even though the head of the offshore unit was fired and the offshore unit dissolved). Moral of the story: it doesn't matter who you invest with in Kenya, you're totally screwed. It doesn't matter how "reputable" the bank is (like CBA pretends to be), you are still toast because the regulators are in bed with these crooks. I considered suing CBA but given our (in)justice system and how easy it is to bribe your way to winning a case, it just wasn't worth the time and effort. saidi On Tue, Nov 24, 2009 at 10:50 AM, Steve Muchai <smuchai@gmail.com> wrote:
See a personal financial advisor and have them go through the document for you before you sign up.
Any experiences with Britak? Are they clean.. some1 is trying to get me in From: skunkworks-bounces@lists.my.co.ke [mailto:skunkworks-bounces@lists.my.co.ke] On Behalf Of saidimu apale Sent: Tuesday, November 24, 2009 7:16 PM To: Skunkworks Forum Subject: Re: [Skunkworks] On investments: Fraud Investigations at Old Mutual I'm afraid a personal financial advisor doesn't help either. I had such an advisor with Commercial Bank of Africa (CBA) and I still got defrauded, and this was with offshore investments. The investment advisor was in fact the head of their offshore investments unit. CBA never refunded a single cent, never admitted liability (even though the head of the offshore unit was fired and the offshore unit dissolved). Moral of the story: it doesn't matter who you invest with in Kenya, you're totally screwed. It doesn't matter how "reputable" the bank is (like CBA pretends to be), you are still toast because the regulators are in bed with these crooks. I considered suing CBA but given our (in)justice system and how easy it is to bribe your way to winning a case, it just wasn't worth the time and effort. saidi On Tue, Nov 24, 2009 at 10:50 AM, Steve Muchai <smuchai@gmail.com> wrote: See a personal financial advisor and have them go through the document for you before you sign up.
It really depends on what investment you are on. Case in instance is unit trusts where there is money market (very low risk, almost fixed return), balanced and equity fund. The value of a unit is published on the dailies and being public info, it really hard to be defrauded. It possible to lose the value of the investment (not fraud) when the price per unit is low depending on the prevailing economic condition, just like stocks but that is the nature of investments. My advise is, do your research well before investing. On 11/24/09, Michael Omondi <michaelomondi@gmail.com> wrote:
Any experiences with Britak? Are they clean.. some1 is trying to get me in
From: skunkworks-bounces@lists.my.co.ke [mailto:skunkworks-bounces@lists.my.co.ke] On Behalf Of saidimu apale Sent: Tuesday, November 24, 2009 7:16 PM To: Skunkworks Forum Subject: Re: [Skunkworks] On investments: Fraud Investigations at Old Mutual
I'm afraid a personal financial advisor doesn't help either.
I had such an advisor with Commercial Bank of Africa (CBA) and I still got defrauded, and this was with offshore investments. The investment advisor was in fact the head of their offshore investments unit.
CBA never refunded a single cent, never admitted liability (even though the head of the offshore unit was fired and the offshore unit dissolved).
Moral of the story: it doesn't matter who you invest with in Kenya, you're totally screwed. It doesn't matter how "reputable" the bank is (like CBA pretends to be), you are still toast because the regulators are in bed with these crooks.
I considered suing CBA but given our (in)justice system and how easy it is to bribe your way to winning a case, it just wasn't worth the time and effort.
saidi
On Tue, Nov 24, 2009 at 10:50 AM, Steve Muchai <smuchai@gmail.com> wrote:
See a personal financial advisor and have them go through the document for you before you sign up.
-- Sent from my mobile device
The problem isn't in the nature of the investments themselves, but rather in the conduct of the guardians of those investments. No matter how sound your investment portfolio is, if the guardians/advisors/trustees/whatever break the law, or act unethically (as they often do the world over) then you're in deep. It is worse in Kenya where the legal system and regulatory authorities are dumb as hell (or smart as heaven, depends on your viewpoint). Saidi On Tue, Nov 24, 2009 at 12:27 PM, Alex Nderitu <nderitualex@gmail.com>wrote:
It really depends on what investment you are on. Case in instance is unit trusts where there is money market (very low risk, almost fixed return), balanced and equity fund. The value of a unit is published on the dailies and being public info, it really hard to be defrauded. It possible to lose the value of the investment (not fraud) when the price per unit is low depending on the prevailing economic condition, just like stocks but that is the nature of investments. My advise is, do your research well before investing.
On 11/24/09, Michael Omondi <michaelomondi@gmail.com> wrote:
Any experiences with Britak? Are they clean.. some1 is trying to get me in
From: skunkworks-bounces@lists.my.co.ke [mailto:skunkworks-bounces@lists.my.co.ke] On Behalf Of saidimu apale Sent: Tuesday, November 24, 2009 7:16 PM To: Skunkworks Forum Subject: Re: [Skunkworks] On investments: Fraud Investigations at Old Mutual
I'm afraid a personal financial advisor doesn't help either.
I had such an advisor with Commercial Bank of Africa (CBA) and I still got defrauded, and this was with offshore investments. The investment advisor was in fact the head of their offshore investments unit.
CBA never refunded a single cent, never admitted liability (even though the head of the offshore unit was fired and the offshore unit dissolved).
Moral of the story: it doesn't matter who you invest with in Kenya, you're totally screwed. It doesn't matter how "reputable" the bank is (like CBA pretends to be), you are still toast because the regulators are in bed with these crooks.
I considered suing CBA but given our (in)justice system and how easy it is to bribe your way to winning a case, it just wasn't worth the time and effort.
saidi
On Tue, Nov 24, 2009 at 10:50 AM, Steve Muchai <smuchai@gmail.com> wrote:
See a personal financial advisor and have them go through the document for you before you sign up.
-- Sent from my mobile device _______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
Old mutual promised to buy unit trusts with my money. I only recently realized they lied. They never bought the Unit Trusts, and I was finding this out two years later. They say that the money is 'linked' to Unit Trusts - what on earth does that mean ? Sent from my iPhone On Nov 24, 2009, at 8:27 PM, Alex Nderitu <nderitualex@gmail.com> wrote:
It really depends on what investment you are on. Case in instance is unit trusts where there is money market (very low risk, almost fixed return), balanced and equity fund. The value of a unit is published on the dailies and being public info, it really hard to be defrauded. It possible to lose the value of the investment (not fraud) when the price per unit is low depending on the prevailing economic condition, just like stocks but that is the nature of investments. My advise is, do your research well before investing.
On 11/24/09, Michael Omondi <michaelomondi@gmail.com> wrote:
Any experiences with Britak? Are they clean.. some1 is trying to get me in
From: skunkworks-bounces@lists.my.co.ke [mailto:skunkworks-bounces@lists.my.co.ke] On Behalf Of saidimu apale Sent: Tuesday, November 24, 2009 7:16 PM To: Skunkworks Forum Subject: Re: [Skunkworks] On investments: Fraud Investigations at Old Mutual
I'm afraid a personal financial advisor doesn't help either.
I had such an advisor with Commercial Bank of Africa (CBA) and I still got defrauded, and this was with offshore investments. The investment advisor was in fact the head of their offshore investments unit.
CBA never refunded a single cent, never admitted liability (even though the head of the offshore unit was fired and the offshore unit dissolved).
Moral of the story: it doesn't matter who you invest with in Kenya, you're totally screwed. It doesn't matter how "reputable" the bank is (like CBA pretends to be), you are still toast because the regulators are in bed with these crooks.
I considered suing CBA but given our (in)justice system and how easy it is to bribe your way to winning a case, it just wasn't worth the time and effort.
saidi
On Tue, Nov 24, 2009 at 10:50 AM, Steve Muchai <smuchai@gmail.com> wrote:
See a personal financial advisor and have them go through the document for you before you sign up.
-- Sent from my mobile device _______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
Hi michael, Britac not bad. Theirs even promises something after 4 years. Wish I had known about them a year ago.. Sent from my iPhone On Nov 24, 2009, at 7:27 PM, "Michael Omondi" <michaelomondi@gmail.com> wrote:
Any experiences with Britak? Are they clean.. some1 is trying to get me in
From: skunkworks-bounces@lists.my.co.ke [mailto:skunkworks- bounces@lists.my.co.ke] On Behalf Of saidimu apale Sent: Tuesday, November 24, 2009 7:16 PM To: Skunkworks Forum Subject: Re: [Skunkworks] On investments: Fraud Investigations at Old Mutual
I'm afraid a personal financial advisor doesn't help either.
I had such an advisor with Commercial Bank of Africa (CBA) and I still got defrauded, and this was with offshore investments. The investment advisor was in fact the head of their offshore investments unit.
CBA never refunded a single cent, never admitted liability (even though the head of the offshore unit was fired and the offshore unit dissolved).
Moral of the story: it doesn't matter who you invest with in Kenya, you're totally screwed. It doesn't matter how "reputable" the bank is (like CBA pretends to be), you are still toast because the regulators are in bed with these crooks.
I considered suing CBA but given our (in)justice system and how easy it is to bribe your way to winning a case, it just wasn't worth the time and effort.
saidi
On Tue, Nov 24, 2009 at 10:50 AM, Steve Muchai <smuchai@gmail.com> wrote:
See a personal financial advisor and have them go through the document for you before you sign up.
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke Other lists ------------- Announce: http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks-announce Science: http://lists.my.co.ke/cgi-bin/mailman/listinfo/science kazi: http://lists.my.co.ke/cgi-bin/mailman/admin/kazi/general
participants (13)
-
aki -
Alex Nderitu -
Bernard Mwagiru -
Jacob Odada -
James Kagwe -
maina martin -
Michael Omondi -
ndungu stephen -
Okechukwu -
saidimu apale -
Stephen
-
Steve Muchai -
wesley kirinya