Meet Peter Alfred Ndakwe, Man behind the infamous Deci Pyramid scheme among...

Meet Peter Alfred Ndakwe, Man behind the infamous Deci Pyramid scheme among other schemes

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Peter Alfred Ndakwe is a known public figure who was behind the infamous CLIP Pyramid who vanished with Sh1.9 billion of pyramid scheme money after setting up two offshore dummy companies in Panama.

He’s now under siege.

Clip Pyramid Scheme was the second largest pyramid scheme after Deci pyramid scheme.

Deci pyramid scheme was founded by George Odinga Donde and Mary Odinga and it took Sh2.4 billion from its 93,485 members. Both pyramid collapsed closing down with members money worth more than sh9 billion.

Peter Alfred Ndakwe had his two companies officially registered i.e Deci pyramid scheme and Clip Investment Sacco Ltd and later opened Panama law firm.

The two companies in Panama had ghost Directors who had given Peter Alfred Ndakwe the powers of attorney to open bank accounts on their behalf  and to draw against the same.

These ghost Directors had also given Peter Alfred Ndakwe the powers to determine the other person or persons who may jointly or individually open  bank accounts, deposit money, and endorse cheques payable to the Company.

With a large chunk of money at his disposal and the realization that he can open anonymous offshore accounts, Peter Alfred Ndakwe got greedy and did the obvious.

Peter Alfred Ndakwe is an author of several Christian books and whose born-again credentials endeared him to the pyramid scheme victims. Mr Ndakwe also ran another company, Kings Script Publishers Ltd, which not only published his books, but also collected money from the public.

Detectives caught up with Peter Ndakwe and is now accused of laddering money from 5,846 victims and the case is still in court.

According to a Task Force Report on Pyramid Schemes tabled in Parliament, Mr Peter Alfred Ndakwe is alleged to have also bought several plots in Runda worth Sh 200 million which he transferred to Perkinstar Ltd owned by this new Panama firms, Sun Jopskin SA and Pentinkson SA.

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