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Safaricom Investment Co-operative accused of fraud

Safaricom Investment Co-operative (SIC) has been accused of duping clients.

Clients who invested in the cooperative in 2017 are yet to receive their title deeds that were supposed to cover the building of Tinga Springs plots.

“If you are planning to invest in a plot kindly don’t try Sic they are big liars. 2 years down the line paid everything but no title only empty promises,” a client wrote on Twitter.

The firm which started in 2009 with the sole purpose of selling land and real estate development didn’t comment on the matter.

However, this did not stop clients from exposing the rot on Twitter

How can new clients trust that the new investments that are being shared by the firm on social media sites will materialize and not flop like Tinga Springs.

An advert by Safaricom Investment Co-operative calling on investors to take up plots at Tinga Springs in 2018. More than 3 years later, clients have not been issues with their title deeds. The management has also gone mute.

Tinga Springs had all the hallmarks of a con, a ponzi scheme going by the cheap land prices and fancy adverts.

Complaints by Safaricom Investment Co-operative clients as shared on Social media site, Twitter

Just like the parent company, SIC has perfected the art of stealing.

The art of stealing is that which is done with impunity; the plan is always to pocket or blackmail agencies that might help wananchi seek justice. The pocketing is done through the bribing of key individuals in the agencies that oversee the various Safaricom entities. The blackmailing comes easy since Safaricom has all the data about a person.

However, there’s another way, in order to appear weak, Safaricom will allow being taken to court, and with a big purse, it can delay the cases for eternity. Never mind, the lawyers are always third-rate, with lame arguments, but the judges know who not to cross.

Complaints as shared on Social media site, Twitter by SIC clients

Former employees of Safaricom also copy this scheme and use it in firms they join.

Here, clients of Safaricom Investment Co-operative, you have been aforewarned.

Complaints as shared on Social media site, Twitter

READ: Safaricom has perfected the art of stealing

More complaints against Safaricom Investment Co-operative


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