Sunday, February 08, 2009

MADOFF LIST,KENYA and SOUTH AFRICA


I saw bankelele's post that a Kenyan resident was on the Madoff list.In case you got released from Kamiti yesterday, Bernard Madoff was an American who ran a giant ponzi scheme.Think of it as a complicated DECI-pyramid scheme for the rich and famous.

The Times has the client list on its site.Looking through it the only african residents are the Kenyan with the Mweiga address and a South African.The fact that we are the only Africans on this list probably indicates our higher level of financial sophistication relative to other African countries.
I wonder how much of the money that some of our country men/women have stashed abroad has been consumed by the recent financial crisis.

CLICK HERE for the madoff list

2 comments:

mwasjd said...

I figure the other Kenyans had fronts with ofshore fund managers...

Fintrade Capital said...

Kenyans cannot learn i guess or they are just risk takers.But again if the who's who of the corporate America were there why not Kenyans???
Anyway these schemes seems to be reinventing themselves day in day out and in Kenya we might be seeing another DECI or such like pyramids promising lofty returns in this day and age of global financial turmoil and many will be quick to dare 'invest'.....

http://www.fintradecapital.blogspot.com