Chase Bank has left hundreds on people distressed with some loosing all their entire life-savings.
Just recently the bank was put under receivership and the results were not pleasing. People lost their jobs, depositors undergoing crisis and also companies have fallen victims of the on-going situation.
Kenyans however, have made this a matter of discussion and a trending subject with images and memes making rounds on the social media platforms. This is harsh considering that other Kenyans are going through rough times.
Retired radio personality, Caroline Mutoko was moved by a victim over the Chase bank downfall that has got every kenyan talking. Here is the message of the victim in a letter
“Dear Joseph Boinnet,
I’ts a Sunday afternoon, I’m sitting here watching my children play. For over 8 years, I have worked hard and saved to make sure they have a better life. I lost (cant access) any of that money today.
I trusted our institutions and invested in the Imperial bank corporate bond. The bond received approval from the Capital Markets Authority (CMA) in August, allowing the bank to market the bond to the public. I’m not looking for a pity party, but this is my story and the story of many Kenyans.
As young men in the city, we have been arrested for leaving work or college late, not having work or national IDs, idling, looking suspicious, we would be forced to sit on the ground and handcuffed two by two, we were then taken along by the police in their patrols, either thrown in the back of a police Land Rover or released at their discretion, especially after they learnt we could not afford to bribe them. We would beg to be released because the last Matatu to our neighborhoods was at midnight. They were/are still bold enough to tells us they have an arrest quota. That was not the life I envision for my children. That’s not their destiny.
Along the way we get enough money to open a bank account, trustingly with the bank’s that targets us, the youth, women, investment groups/Chamas and SME’s. I’m talking about kawaida people, teachers, nurses, startups, Saccos and even the people who work for you, the police. As of today over 55,000 of us cant like David Zawadi (have no idea who he is), all police resources are put to work to find him.”
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