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The Standard e-Paper
Truth Without Fear
The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
One of the proposals in Uhuru Kenyatta’s Budget speech was introduction of legislation to ban pyramid schemes and "non-genuine multi-level marketing schemes".
Having vigorously supported such a move since we led coverage of the latest wave of Ponzi, pyramid and MLM scammers in 2006, this paper is encouraged at the promise. More than Sh30 billion is believed to have been lost to those schemes that collapsed.According to a task force probing the problem, 20 people committed suicide after losing their savings to fraudsters.
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