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Bitcoin deal turns sour

by Staff reporter
08 Oct 2018 at 18:59hrs | Views
A Harare woman and her son who claimed to offer a way of trading cryptocurrency to enable their clients to make a quick buck, have been arraigned before the courts after the deal went sour.

Roy Thulani Dhlamini, 23, and his mother Annah Samoyo, 44, appeared before Harare magistrate Harare magistrate Rumbidzayi Mugwagwa on Saturday charged with contravening the Criminal Law (Codification and Reform) Act Chapter 9:23 (Fraud).

They were remanded out of custody after being admitted to $50 bail long with other stringent bail conditions, including surrendering their passports and not interfering with State witnesses.

It is the State's case that complainant Mufudzi Madzorera, 24, on a date unknown to the prosecutor but in the month of November 2017, was approached by Dhlamini, who was his school mate in China.

The court heard that Dhlamini referred him to his mother Samoyo about a trading Bitcoin business.

It is alleged that Madzorera agreed with Samoyo on a trading period of two weeks and he requested her banking details and phone number.

It is further alleged that Madzorera sent the accused an initial $6 462 which was supposed to grow by 52 percent with Madzorera taking 12 percent and Samoyo taking 30 percent.

The deal turned sour, the court heard, when Samoyo failed to deliver both the initial deposit and the profit on the agreed time.

It is said Madzorera made frantic efforts towards the recovery of his money but all efforts hit a brick wall, resulting in him making a police report.

The value reportedly prejudiced is $6 462 and nothing was recovered.

Source - dailynews