×
App Icon
The Standard e-Paper
Stay Informed, Even Offline
★★★★ - on Play Store
Download App

Investors’ billions that sank with pyramid schemes

Jane Musimbi lost Sh31m to the schemes in 2006.

The staggering financial losses Kenyan households suffered in the hands of pyramid scheme masterminds can today be revealed.

Top among individuals who lost their cash to the unregulated money-grabbing outfits is Eileen Kagendo, a Nairobi County resident who had invested Sh131 million in diverse schemes by the time they collapsed eight years ago.

Premium Article

Get Full Access for Ksh299/Week.

Fact-first reporting that puts you at the heart of the newsroom. Subscribe for full access.
Continue Reading  →
What you get
  • Unlimited access to all premium content
  • Ad-free browsing experience
  • Mobile-optimised reading
  • Weekly newsletters & digests
Pay via
M - PESA
VISA
Airtel Money
Secure Payments Kenya's most trusted newsroom since 1902
Support Independent Journalism

Stand With Bold Journalism.
Stand With The Standard.

Journalism can't be free because the truth demands investment. At The Standard, we invest time, courage and skills to bring you accurate, factual and impactful stories. Subscribe today and stand with us in the pursuit of credible journalism.

Pay via
M - PESA
VISA
Airtel Money
Secure Payment Kenya's most trusted newsroom since 1902

Related Topics

pyramid schemes