February 5, 2016

Kenyans in US who invested with FEP cry foul as concerns over the group grow

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Kenyans in the US have lamented that the FEP Group is giving them a run around when it comes to how their investments are handled.

Many have claimed that they have tried to reach top management to address their concerns but they seem to be getting run arounds.

A growing concern from many of the is the fact that FEP does not seem committed to the projects they start but quickly pivot to new projects and keeping Kenyans who have invested with them in the dark over the previously started projects.

They worry that there may be no returns on their investments at the current pace with FEP.

Here is a letter written to FEP Board of Directors by a group OKOA FEP Solution Team seeking answers to their issue.

OKOA FEP is a team aiming to bring memebrs issues to the forefornt and bring together FEP members who are worried about the state of affairs at FEP

—————————————————————————————————————————–

The Board of Directors

Fountain Enterprises Programme

P.O BOX 72367-00200

Nairobi, Kenya.

Dear Members of the Board of Directors,

 

SUB: FEP GROUP OF COMPANIES 2015 INVESTOR PROMISE.

 

We are writing to you on behalf of numerous leaders and investors located in the diaspora who have come together in unity longing to voice their concerns. As you are aware, the group CEO had engaged several of us in the diaspora in the initial stages of FEP. Most of us embraced the vision especially after considering the representation within the board which contains very reputable and honorable individuals in the Kenyan society.

 

However based on numerous reports and observations from many of plus several of the investors we helped recruit, there is growing concern that our investments are not being represented appropriately. For this reason, we wish to bring several concerns from the USA diaspora leadership and also from other FEP investors view.

 

LEADERS VIEW:

Majority of the core leadership here in the USA joined FEP in 2011 when the company was selling Tier II ownership shares. As a result, many of us have a rich history of the company and have played key roles here in the diaspora especially on recruiting many new investors. This effort comes with countless hours and other monetary resources all geared towards making FEP successful and facilitate the maturity on the promised returns. We put our reputation on the line and have continuously done so up to this point.

 

On a sour note, we have been left wondering why several promises and requests have gone unanswered. Some of these grievances date back from 2012 when several of us were tasked with selling Tier III shares and recently the PPO. We were made to believe that our efforts will be compensated and expenses reimbursed only to be left on a never ending trail of promise after promise. Every day for the past 4 years our reputation has been tested as we engaged and decided to stand in the gap of many common investors fighting and defending the companies’ integrity, promises and vision. We have continuously suffered and had setbacks after failed lack of proper communication from the head office on updates about the company’s progress, investments and financial health. This frustrating view has been shared by the many investors we recruited and because of the managements lack of communication, investors are left with the only option they have available of relying on hearsay and unconfirmed stories received from several sources as listed in the attached detailed Addendum letter.

 

INVESTORS VIEWS:

The FEP membership and investor representations in the USA is the largest outside Kenya with that number currently knocking on a membership of 7,000+ members. These members, many of them who are FEP investors at different ownership levels relied on our representation and information provided to them to make their investment decision. It is with these that many feel that they are owed due diligence as owners for their investment which includes updates on how the company is performing, share certificates as well as title deeds for those who purchased land.

 

However, this has not been the case as most of the investors have relayed story after story on how they have been taken on a spin. Some have cited misrepresentation of facts to the point of being coerced to invest their money into nonexistent projects. Majority of them have not received their certificates for the shares they purchased in 2012 and title deeds for land procured several years ago. Many claim lack of responsibility within FEP leaving them regretting why they engaged. Some have also cited feedback from their friends and loved ones in Kenya on numerous mismanagement episodes within FEP. (See attached addendum for details)

 

Because of this, many investors are seeking answers and have urged us to put the same effort as we did to recruit them into FEP and not to leave them hanging. After several considerations, consultations and professional advice we decided to present our case and involve the board since most of this frustrations hinge around the management of the group of companies. We therefore request for your audience so that we can try and tackle some of these incidents many refer to as injustices within FEP. Listed Below is the feedback we are seeking:

 

  1. Current audited financial report for 2014/2015
  2. Updates on Lukenya properties. The cost value, number of plots sold and current market value
  3. Names of investors were forwarded through our County Chairmen. When do we get share certificates for tier 2, Tier 3 and PPO?
  4. Number of companies owned by FEP, how many are in operation and status of those out of operation
  5. Percentage of ownership and any MOU for any existing partnerships
  6. Updated PPO report, amount raised and what is the next plan of action?
  7. What happened to FEP Bank and the 40% of founder shares allocated to banking according to CEO’s presentation.
  8. When will FEP honor the leader’s remuneration package as outlined by the CEO in 2012? Some leaders have never been compensated for expenses incurred on travel, hotel reservation and other related cost. Does FEP have any plan to reimburse these expenses and how do they plan to do it in future?

 

In our last leaders conference meeting held last month, there was a general consensus that there is a need for Diaspora to issue a press release on issues circulating around about FEP and unkept promises. Before we take this course of action, we would appreciate if the board can provide an honest feedback by July 15th, 2015. Meanwhile we will not campaign or promote any FEP products before all these concerns are addressed.

Yours faithfully,

 

OKOA FEP SOLUTIONS TEAM

  1. George Njue, North Carolina
  2. BenardNgigi, Oklahoma
  3. Isaac Mwangi, Oklahoma
  4. Geoffrey Soyiantet, Missouri
  5. Geoffrey Kiama, Missouri
  6. Paul Kamau, Texas
  7. Selena Gatwiri, Massachusetts
  8. Charlie Mutua, California
  9. Charles Kabaiku, Kenya
  10. Maurice Akula, Texas

Cc.

– Chairman, FEP Advisory Council

  • PS Ministry of foreign Affairs & international Trade
  • Kenyan Embassy, USA.
  • Global FEP Diaspora Solutions Chairman, USA

– Global FEP Diaspora Solutions Representative, Kenya

Bcc.

  • Global FEP Diaspora solutions Representatives, USA. (19 Members)
Comments
14 Responses to “Kenyans in US who invested with FEP cry foul as concerns over the group grow”
  1. It look similar to another group that was around year 2004 & 2005 it conceived many people to invest telling them after three years they will be receiving huge returns. They were being told that those who invested earlier had left their nursing job which was putting someone in the top seat and were in high demand and paid about two thousand dollars upon sign. Who could not invest his/her money when one heard that a nurse would left his/her work because of money he/she is receiving. Many lost their money and many don,t see eye to eye

  2. Sam Ku says:

    You must learn to be patient. Am surprised that the complainants are leaders. Seems you’ve no leadership qualities and are those self-seekers who get involved for quick bucks. We, the members seem to have more information than our leaders. The issues you’ve raised have been answered in several meetings we’ve attended here in Atlanta. I have all my share certificates from tier 2 to PPO. Number of companies is in public domain unless you don’t read reports and downloads publicly available. Bank shares and the current audited accounts will feature at the AGM that’s expected before 09/27/2015. We know the PPO raised Ksh 2.3 billion
    I think your concern is the commission you expected from recruiting members if you did and had been promised. But that should not be an issue to poison the diaspora membership.
    We should also know whether you’re members or just busy bodies sponsored to create discontent.
    When and where was Global FEP Diaspora solutions Representatives, USA registered?
    What are its objectives?

    I am a FEP member and duly informed and have a lot of confidence with what FEP is doing for the investors

  3. I said this on July 11 2015.

    When i heard that my brothers and sisters from Kenya were making a decision on confronting FEP as an organization i was skeptical because i know how hard it is to bring down a corporation here in America. But then i hear from my wife in whose name i put the share names under to comply with the Kenyan and FEP's requirements that you have to be Kenyan to qualify however i have been in the military for close to 30 years now and one thing i understand is that the rules are there to be followed and in my quest to comply i declared my International Investments to my government so i could not be by any chance funding or financing a terrorist orgarnization. BUT I cannot speak on behalf of the Kenya Govt or FEP as a group as i do not know how it is setup on the ground but i tend to believe people and take their word especially if it is the CEO of the company speaking which in essence says he has the mandate of the board but what i have heard over the years since 2011 and what i have captured in form of circulars, brochures, pamphlets and video recordings of this investments drive in the US one thing has been clear the year 2015 and a road map. i don't know how it works in Kenya but as i hear other companies and investments have come up and failed. Labled Pyramid schemes and nothing else get done. I understand the Federal bank of Kenya is still holding onto some money for those investors that put in their money but i hear most are now dead while others have committed suicide, lost their marriages and homes literally.
    Now, I have traveled my share of the world and consider myself knowledgeable to some extent compared to any level american but even then for A Kenyan when is it the right time to say this is really bad or ask these questions:
    1) When is the right time to notify your government so it can act in time and salvage or secure your investment?
    2) Who is the best source of information on a companies operation if not the persons who have worked there as employees, Invested their own salaries in the same investment and introduced their families right down to the village level. i don't know how financial gurus think in Kenya but if one in America thinks that those employees are pariahs and disgruntled employees he should probably have just stayed in his own country for he has learnt nothing and i doubt if he is adding any new value to the american system.
    3) I am made to understand that 3 Kenyan Professionals who have made it in america and are esteemed community members have been invited to take charge but none have lasted for more than 7 months before exiting. Is the problem THEM or whoever they are working with?
    4) The staff turn over has been close to 97% since 2011 the remaining 3% are said to be the CEO and members of his community that he consider close circles. Can someone tell me whether Kenya then has any competent employees if a whole company gets replaced or choose to resign because of a few?
    5)Those who have tried to raise their voice have been called empty potheads and if they ask questions i am told the CEO simply said there is no need to explain as they will not understand. Does this not tell ME that the CEO knows the people he is dealing with and is exploiting them for their ignorance?
    6)What will it take before the Government or the Board realizes this is a lost cause? Another Murder, suicide attempt or as my wife tells me..Someone has to be thrown out of a third floor window?
    7)The AGM for this company is like gambling in a casino, always shifting until there is something new to show. Now i hear they are "banking" on the Federal bank in Kenya giving them a license yet they do not know when or IF.
    8) I cannot wait for such nonsensical thinking to claim my money and as a matter of fact i need to get the Passport numbers of these intelligent Leaders so we can have their names added on the US no fly list as Financial Plunderers..I believe that would save other Kenyans from this heinous acts of living OFF their sweat with promises that are only redeemable after death.
    I am done negotiating or dealing with Fellow Kenyan brothers and Sisters for they have a fear i cannot understand. It is time to try my Country's system and this needs to now be handled the American way.
    Captain Njue, You are a military man and i respect one when i see one, When your options are exhausted kindly let us use the American system to do what a Kenyan system cannot do. Bring these People to justice. No single investor will have to sacrifice their livelihood so a few can thrive.
    Over and out.

    • Kim says:

      Kenyans will never cease to amuse the world. They innovate, make demands and one other one here is claiming to be the inserter to the list of non fliers to US, the land of opportunities. Amusing how one can dedicate a substantial useful time to make imaginations. The mere fact that you claim to have transferred investments to your wife to evade taxes is a crime that should put you behind bars. Keep imagining the kenyan way.

  4. margaret says:

    can these complains be dealt with once and for all..we started on the ground that God wants to bless us.so many believers have invested in fep we can talk scream write anything, blame any body blame a certain tribe for our problems. we can call fep a pyramid we can also say there was alot of taking advantage in the name of volunteer work. many false promises ,many questoins 1. is our money save? 2 where are our certificates? 3 whom can we ask and get an answer? 4is the diaspora talking the truth? with all that in psalm 113 ;6Gog humbles himself to behold the things that are in the heavens and in the earth so may we tell THIS GOD TO SETTLE EVERYTHING FOR US .HE KNOWS WHERE THERE HAS BEEN UNFAIRNESS WHERE WEVE LOST MONEY HE KNOWS ALL THE ACCOUNTS HE KNOWS ALL THE DIRECTORS AND IF THERES ANY TRIBALISM HE ALSO KNOWS THE TRUE FEP MEMBERS. NOW MAY THIS MIGHT GOD REBUKE THOSE WHO WANT DO BAD THINGS IN FEP, LETS WAIT AND SEE WHAT HE WILL DO. AMEN. God bless fep

    • Daniel says:

      This may or may not help you but it’s God’s word.
      But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition.

      10 For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.

      I hope that iam wrong about this but I’ve learnt never to make investment based on someone trying to excite me. The figures that were being quoted sounded more like a pyramid. And I would have you know that some in the board were very much involved with the big pyramid collapse in Kenya.

  5. Nyaga says:

    That group that is calling itself OKOA FEP are self seekers. They are lying to Kenyans openly that FEP management cannot be reached. How many members of FEP have called the following number Tel: +254 718 630 001 and it’s also found on FEP website fep-group.com and did not get answered? Even those that are non members, please try calling that number and see if you will not get help. USA has a lot of confidence with FEP. Even as OKOA FEP team are wining all over, Kithaka is planning a return to USA late in the year or early next year and he will move around many states. Some of the so called OKOA FEP leaders are making claims that do not add up. they are blaming fep management for how they chose leaders to represent FEP members in USA while some of them were selected in the same way but got fired or had to be let go because they could not match the standard of integrity being upheld by Kithaka. It’s a big shame that they have now resorted to posting lies with the hope of appearing important. Why don’t they try to call a meeting in any state of FEP members and then bring up the issues they are raising so as to see the reaction of FEP members? I am sure that will be that last time they will ever dare joking with a group that has tha most respect in USA.

    • Maina says:

      I agree with your view. Many of us in USA are satisfied with FEP management. Okoa FEP group are a bunch of people that should be ignored. They think they are very special. When and where did they organize a fep meeting so as to know the feeling of FEP investors? They need to mention just one state and also tell us of the venue so that we can check their credibility. They have wasted a lot of our leaders time trying to respond to their stupid allegations instead of working to build the company. If Okoa group are disatisfied with FEP, they should quietly go and meet with FEP leadership and request their money back instead of making noise like empty debes. I recently read that they have writen to CBK to request that the license not to be released while at the same time they are blaming the company for promising a Bank in 2015. How stupid is that surely? Soon they will discover the meaning of *The Power of Many*. September iko karibu.

      • Jurgen says:

        The fundamental questions has not been answered. Mr. Maina/Nyaga Is it not worrying if you invest money and have many questions unanswered? Like Margaret has asked, where are the certificates? When is the AGM? If you concentrate on the basics then these tantrums would stop.

        • margaret says:

          fep investors lets be careful to the many negative comments.something good like fep investment can be destroyed by other organizations who are not happy with what we are doing cos of competition.some even bribe none investors to write comment about things which are not true so that investors can loose confidence with the leaders and destroy the organization. .some members leave only to regret later. lets leave these many meaningless talks and wait and see its a matter of time.DONT DO THINGS IN A HURRY YOU CAN WANT TO COME BACK BUT THERE WILL BE NO WAY. be care of whom you listen to or what you read be wise . some comments are from people who are not fep members even they dont know the meaning of fep its goal its aim how it started and where we are going .GOD BLESS FEP

  6. nameless says:

    please there is another lady working together with Githaka here in the UK by the name Margorie wa nyaga. please people ogopa these mama. we are going to bring her into justice as well.

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