This archive report was first published on 1 July 2021.
On July 1, 2021, the High Court intervened in a long-standing dispute between Cytonn Investments Management and the Capital Markets Authority (CMA) over a real estate fund facing liquidity challenges.
The court's decision came after CMA launched a 'criminal probe' against Cytonn, which the company claimed was an attempt to disown their engagement over a long period of time with Cytonn Investments on one of the two funds facing liquidity challenges.
Cytonn had hit back at CMA for 'misleading' the public over the recent reports about the fund, stating in a letter that CMA was 'partisan' in creating, naming, and approving the fund as a private offer since 2016.
'We take note of your June 17th, 2021 press release to the public and recent media statements, which are grossly misleading to both the Kenyan public and relevant policymakers,' the letter read.
