The parent company of LendPlus mobile loan facility has been exposed for unethical business practices despite not being approved or licensed by the Central Bank of Kenya.
A whistleblower exposes Aventus Group (Lendplus) to predatory loan extensions and suspected regulatory breaches.
An employee of Aventus Group, operating under the brand “Lendplus,” has come forward with allegations of unethical business practices and employee mistreatment.
The whistleblower, who has requested anonymity, claims that the company engages in punitive loan extension policies, which impose hefty fees on borrowers unable to repay their loans on time.
These extensions reportedly lead to a cycle of debt that places a heavy burden on struggling Kenyans.
The whistleblower suggests that the company’s leadership of Alex Rybalko and Serhi Trambovin may not be compliant with local tax laws and Central Bank of Kenya (CBK) regulations.
However, the company has been operating under the radar of the country’s tax system. They have evaded many circumstances of closure through rogue officers from CBK and KRA.
