Monday, 24 August 2020

INVESTORS LOSE US$2 MILLION IN PYRAMID SCHEME


GULLIBLE investors lost US$2 million to a suspected pyramid scheme in Harare.

This was revealed at the Harare Magistrates’ Court at the weekend where Richard Samunda of Berven Capital in Milton Park was accused of violating provisions of the Banking Act. He was not asked to plead to the charges. 

It is alleged that sometime in 2018, Samunda, acting in common purpose with Berven Dzinoenda and Ambrose Chikukwa, who are still at large, formed an unregistered company and called it Berven Capital.

It is further alleged they would take deposits from people and invest in a yet to be established business and after six weeks they would give the depositors their money back with interest of 50 percent. 

On August 14, the police received information from the Reserve Bank of Zimbabwe that the operations of Berven Capital were illegal and were contrary to the Banking and Microfinance Act.
  
On the same day, police raided the company’s premises in Milton Park and found them closed and learnt that Samunda had earlier turned away over 200 people who were claiming their promised dues.

Samunda was remanded in custody to today for a bail ruling after the State said he was not fit for pre-trial freedom.

 Investigating officer Edwin Hakuvori argued that Samunda was not a proper candidate for bail considering the allegations he is facing. 

His lawyers, however, argued that he had been acting in good faith and cooperating with the police.  Prosecutor Sebastian Mutizirwa appeared for the State. Daily News

0 comments:

Post a comment