Friday 26 April 2024

PONZI SCHEME BOSS GRANTED BAIL

ONE of the directors of e-Creator, a suspected Ponzi scheme that allegedly defrauded thousands of people of over US$1 million, has been granted US$1 000 bail by a Harare magistrate.

Trymore Tapfumaneyi, who had been in remand prison for over seven months, was finally granted bail by Harare regional magistrate Mr Donald Ndirowei.

His alleged accomplices, the suspected mastermind Zhao Jiaotong and the other director, Justin Kuchekenya, are still in custody pending trial.

But they intend to apply for bail today using the argument of changed circumstances.

It is alleged that in January last year, Zhao created an online investment Ponzi scheme called e-Creator.

On February 7 of the same year and in connivance with Tapfumaneyi, Justin Kuchekenya, Billy Thomas Syedou, Abraham Mutambu and others who are still at large, Zhao registered a company with the Zimbabwean Registrar of Companies styled e-Creator Electronic Commence (Private) Limited under company registration number 2853/23, with its offices in room 15 and 16 on the 10th Floor of Joina City, Harare.

The court heard that Zhao went on to launch the company as an online e-commerce operator.

He allegedly took deposits from thousands of people who never had returns on their investments. Herald

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