A NUMBER of people could have lost thousands of dollars in
a well-calculated pyramid scheme that was being orchestrated through WhatsApp
and EcoCash.
One person has since been arrested and appeared in court in
Bulawayo yesterday in connection with the scam, where people were enticed into
making transactions via EcoCash.
Philip Gwitima (28) appeared before Bulawayo Magistrate
Miss Ratidzo Ringisayi to answer to a charge of fraud.
He was remanded in custody to Wednesday. Gwitima was not
asked to plead.
The court heard that sometime in June this year Gwitima
created a WhatsApp group named Financial Breakthrough, which he administered
with one Tatenda Moyo who is still at large.
They supplied numbers to members of the group, where they
told them to deposit money, which would be paid back with interest.
Six people made transactions amounting to $7 746 in varied
amounts.
Information supplied to some of those who were allegedly
duped showed that people were enticed to deposit money ranging from $50 to $5
000. They were promised that the money will accrue a five percent interest.
The money was said to be invested in a Harare registered
company named Destiny Investments.
The company was reportedly established in 2016, according
to its profile, which claimed to be earning profits through buying and selling
stocks and shares, while investing in income generating projects such as mining
and farming.
To join, according to the profile one was required to
invest a minimum of $50 through EcoCash with the maximum being $5 000.
“. . . NB please confirm investment line first before
investing. Minimum investment per day $50, maximum $5 000 per day. (2) Choose
profit plan from the above stated,” read a brief from the company profile.
The scam stated that investors would be added to a WhatsApp
group once transactions were confirmed and investors would have the opportunity
to chat with other investors to discuss various business opportunities.
Investors were led to believe that their monies would be
doubled, depending on the period.
The people were led to believe that if they referred
someone to the company they would earn a five percent payout on their
investment, with bonuses being paid out every Monday, Wednesday and Friday.
“Refer someone and get a referral bonus of five percent of
their investment. Bonuses are awarded Monday, Wednesday and Friday only end of
day so claim your bonus on these days after 12pm,” read part of the scheme.
This is one of many pyramid schemes to collapse since the
infamous Geozing pyramid scheme of 2015. Sunday News
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