Whistleblower Exposes Aventus Group (Lendplus) for Predatory Loan Extensions and Suspected Regulatory Breaches

An insider within 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.

“Hi, Nyakundi. Please hide my identity. This is about Aventus Technology Ltd (Lendplus).

I am sure this company does not pay taxes, is not compliant with the CBK rules and harassing its borrowers with something called extensions if unable to pay their loans on time.

Extension means, if you can’t pay let’s say Ksh 10,000, you’re asked to extend your repayment days to for the next 15 or 21 days and pay like Ksh 7,000 or even Ksh 10,000.

Then again after the lapse of the said days, again you’ll pay principal, plus interest plus the penalties.

This is punitive and harsh to struggling Kenyans.

Around January & February, they deducted employees’ bonuses and came up with issues that staff members are not entitled to bonuses or something like benefits.

If you were supposed to get like Ksh 30,000 unapata Ksh 10,000 or less.

I resigned the following month.

During pay weeks, employees are forced to extend up to 8:30pm.

They’re given two wings of Kuku Inn & a handful of chips, carried up to town then from there you sort yourselves.

Some even lack transport to their homes.

I once challenged them to give us at least Ksh 300 as fare instead of kuku wings and chips and they developed grudges with me.

If you don’t extend during pay week, because you must do it every Monday, Wednesday ans Friday you’re threatened with sacking and remember you have to report tomorrow early in the morning again.

Ladies are not given emergency offs to attend to their sick children or even loved ones.

There’s a team leader called Lenny who treats girls like his children.

Then an HOC is sleeping with every beautiful girl on promises that she will be given softer cases to handle and be given lifetime job security.

It’s headed by two Russian guys Alex Rybalko & Serhi Trambovin.

My research proves they don’t pay taxes and are not compliant with the CBK rules.

To extreme on clients harassing them with punitive penalties and interests.”

These serious accusations underline potential issues of labor rights violations and financial misconduct.

The claims call for a thorough investigation to ensure that employee rights are protected and that financial institutions adhere to regulatory standards.