Cyprian Nyakundi, Kahawa Tungu, Robert Alai, and Business Times Kenya have been ordered to delete content by a Nairobi Court.
The bloggers were directed to delete the articles questioning the commodities and foreign exchange trading business of the Standard Investment Bank (SIB).
According to the court, the articles are defamatory and are hurting the SIB product, trading as Mansa X.
Justice Said Chitembwe told the bloggers to pull down at least six articles from the internet and search engines such as Google, Yahoo and Bing.
Judges' Orders
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“I am satisfied that the applicant has a genuine concern considering that its core business is offering financial services and therefore thrives on goodwill and confidence it portrays with its potential and existing clients,” the judge said.
SIB sued the blogger's articles, terming them defamatory, and lacked evidence to show that the product was likely to be a Ponzi.
They had labelled Mansa X a Ponzi scheme after it shrugged off the effects of Covid-19 to post a net investors return of 18.75 percent last year on Wall Street’s resurgence.
