• Cytonn Unit Trust Scheme’s assets dropped from KSh 960.2 million to KSh 771.9 million in the quarter ended June
  • Lynn Ngugi, an advocate of the High Court and one of the Cytonn investors, recently took to social media to lament about how Cytonn had frustrated her and fellow investors
  • Cytonn said the current cash woe it was facing was as a result of a binding decision by over 4000 clients who agreed to extend maturities by 12 months because of COVID-19
  • Cytonn Investments faces an uncertain future after it was placed under administration

Data from the Capital Markets Authority (CMA) has revealed investors withdrew KSh 188.3 million from Cytonn Unit Trust Scheme in the quarter ended June.

Cytonn boss Edwin Dande. Photo: File/TUKO.
Source: Original

The scheme’s parent company Cytonn Investments is reportedly facing uncertain future and is under administration.

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According to the report by Business Daily, the scheme’s assets dropped from KSh 960.2 million to KSh 771.9 million during the period under review.

The high-end real estate giant has been in the eye of the storm in recent weeks, with disgruntled investors claiming the company failed to pay them after they invested millions, with the hope that they would reap big returns on investment.

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An estimated 4,000 investors had reportedly pumped in more than KSh 10…

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