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Zimbabwe ex-diplomat in fraud storm
Shamiso Fred, a former honorary diplomat to the United Arab Emirates (UAE), faces legal action for allegedly defrauding Zimbabweans living abroad in what is suspected to be a Ponzi scheme.Arou...Published: 22 May 2024 at 09:59hrs | 4 | by Staff reporter
Diplomat dragged to court over Ponzi scheme
A DIPLOMAT linked to an Asian country has been dragged before the Harare Magistrates' Court accused of swindling his countrymen in the diaspora of millions of dollars in a Ponzi scheme.This em...Published: 05 Feb 2024 at 04:12hrs | | by Staff reporter
EXPOSED: Zimbabwean scammer Webinston Jokonya fakes to create new country
In a surprising twist, investigations by this publication and others into the claimed discovery and establishment of the United Republic of Delvin (URD) on Howland Island by Zimbabwean national Dr. We...Published: 05 Jan 2024 at 11:21hrs | 212 | by Mandla Ndlovu
Car dealer conned US$80k in another Ponzi scheme
A BORROWDALE-BASED car dealer reportedly lost US$80 000 to a con-artist operating a Ponzi scheme disguised as Homelife Furniture and Electrical Appliances Company.Emmanuel Chikweza, who is bei...Published: 19 Jul 2023 at 06:42hrs | | by Staff reporter
Chinese national arrested over E-creator Ponzi Scheme
A 39-year-old Chinese national has been arrested for allegedly defrauding unsuspecting members of the public through the E-creator ponzi scheme.E-Creator was a firm that promised investors qui...Published: 13 Jul 2023 at 13:31hrs | 5 | by Staff reporter
Ponzi scheme founder flees with 'investors' US$1m
THE founder of an online Ponzi scheme, E-Creator, has left his clients seething with anger after duping them of large sums of money before vanishing.In a statement issued to clients yesterday,...Published: 07 Jul 2023 at 07:42hrs | | by Staff reporter
Bogus 'police officer' robs woman of US$98K in a Ponzi scheme
A-RUWA man who impersonated a police officer and robbed her of US$98 000 in a botched Ponzi scheme was today arraigned before Harare magistrate Dennis Mangosi to answer to the charges.The susp...Published: 24 Nov 2022 at 04:58hrs | | by Staff reporter
Government salary deductions rile civil servants
CIVIL servants are up in arms with their employer over 2.5% deductions from their salaries every month towards a loan scheme allegedly meant to benefit them.Attempts to opt out of the "forced"...Published: 21 May 2022 at 18:30hrs | | by Staff reporter
Rogues wreak havoc on forex auction, says RBZ
ZIMBABWE'S foreign currency auction system is under siege from a cartel of rogue local and international companies externalising millions of United States dollars (USD) under a well-orchestrated schem...Published: 07 Jan 2022 at 19:40hrs | 5 | by Staff reporter
Woman loses US$6 000 in Ponzi scheme
A 35-YEAR-OLD Bulawayo woman lost US$5 580 and R2 500 in a Ponzi scheme from which she expected rich pickings, police have confirmed.The unidentified woman only realised that she had been dupe...Published: 12 Dec 2021 at 19:22hrs | 5 | by Staff reporter
Residents lose US$18 000 to Ponzi scheme
POLICE have arrested a fraudster for allegedly duping residents of money amounting to US$18 300 in a Ponzi scheme.In their Twitter page, police said Farai Chingombe tricked residents of Hwange...Published: 13 Oct 2021 at 06:06hrs | | by Staff reporter
Chamisa's new Ponzi scheme
FOLLOWING the MDC's dizzying electoral defeats at the hands of Zanu-PF in March 2013 and July 2018, the opposition outfit lost most of its traditional Western funding as donors turned off the funding ...Published: 03 Oct 2021 at 08:11hrs | 1 | by Nobleman Runyanga
Zimbabweans lose US$5m in Ponzi scheme
ZIMBABWEANS who invested more than US$5 million in a pyramid scheme in a bid to get rich quickly have been left counting their losses after the owner of the scheme failed to give them back their inves...Published: 03 Sep 2021 at 06:49hrs | | by Staff reporter
'Govt employees loan facility a Ponzi scheme'
TEACHERS have expressed concern over the delay by the government to disburse loans from a revolving fund for a civil servants' facility known as Government Employees Mutual Savings (GEMS) fund....Published: 26 Aug 2021 at 06:37hrs | | by Staff reporter
Zanu-PF worker kidnaps man, extorts US$120,000
A Zanu-PF employee has been arrested for allegedly kidnapping a Harare man whom he took to the party headquarters, threatened him with death and disappearance before forcing him to sign agreements of ...Published: 16 Jul 2021 at 09:23hrs | | by Staff reporter
Zupco monopoly: State capture or another Chimurenga?
BEGINNING January 21, 2019, the government of Zimbabwe has been making a series of declarations reinforcing the apparent principality of the Zimbabwe United Passenger Company (ZUPCO) in the provision ...Published: 11 May 2021 at 18:35hrs | | by Discent Collins Bajila
MDC Alliance... a hallmark of political Ponzi schemes
MDC activist, Freeman Chari, launched an initiative to raise salaries for the so called "political detainees" in Zimbabwe and he indicated that the campaign has raised over US$400 already. The MDC All...Published: 16 Apr 2021 at 19:20hrs | | by Uncle Shumba
What Zimbabweans must know about Retail Forex Trading
The forex market is the largest financial market in the world surpassing even the global stock markets. The BIS triennial survey of 2019 states that the global forex market generates nearly 6.6 trilli...Published: 06 Mar 2021 at 05:21hrs | 2 | by Staff writer
Since when did Father Christmas come in February?
Conmen are at it again, reaping where they did not sow. Some Hararians and a sizeable number from 'Blues' are ruing the day they joined a get rich quick pyramid scheme where the investor was promised ...Published: 13 Feb 2021 at 18:11hrs | | by Tondo
Distance is not a barrier, really?
I will still ask till hoarse, where are the flamboyant know-it-all Johnny-come-too-late prosperity gospel Prophets when Covid-19 is cutting God's people down? The miracles galore has van...Published: 28 Jan 2021 at 22:02hrs | 6 | by Tondo
Ponzi scheme operator on the run
POLICE have launched a manhunt for a ponzi scheme fraudster, Bervern Dzinoenda who is said to have posed as an investor and made super profits, then later disappeared with his clients' deposits....Published: 15 Oct 2020 at 06:40hrs | 1 | by Staff reporter
RBZ tightens EcoCash squeeze
The Reserve Bank of Zimbabwe (RBZ) has directed Econet Wireless that EcoCash individual subscribers will, with immediate effect, be allowed to transact a maximum of Z$5,000 daily.Individuals a...Published: 26 Aug 2020 at 20:35hrs | 6 | by Staff reporter
Zimbabwe reaches 'tipping point'
ZIMBABWE'S Finance minister Mthuli Ncube responded to the country's worsening economic crisis last week by blacking out inflation statistics for the next six months, boosting the price of the little p...Published: 10 Aug 2019 at 11:47hrs | | by Antony Sguazzin, Prinesha Naidoo and Ray Ndlovu
Blockchain: Lessons I learnt
Having recently completed my degree recently, I was looking reviewing my academic journey so far especially my final year. The highlight of any final year is the capstone project and mine was on block...Published: 04 Aug 2019 at 16:55hrs | 1 | by Kudzai Kangwende
ZCTU can do better than demonstrate for redollarisation
No good deed goes unpunished.Normally, the doer of a good deed expects just a "thank you", but usually someone is adversely affected by the good deed. For example, saving someone's life from a...Published: 05 Jul 2019 at 08:10hrs | | by Conway Tutani
WATCH: ZUPCO buses stuck at a fuel garage
ZUPCO buses were ground to a halt in Harare on Wednesday after garages ran out fuel. A video that has circulated on the internet shows the buses stranded at a fuel garage.The person who is tak...Published: 30 May 2019 at 12:20hrs | | by Mandla Ndlovu
No fuel price increase - Zera
THE Zimbabwe Energy Regulatory Authority (Zera) has dismissed reports on fuel price increases.Zera says the recent regulations will not result in the increase in the price of fuel but were mea...Published: 21 May 2019 at 09:03hrs | | by Ndou Paul
New proposed fuel prices leaked
Fuel dealers and the Zimbabwe Energy Regulatory Authority are locked in talks about fuel prices, award winning journalist Hopewell Chin'ono has revealedDealers are reported to have stopped sel...Published: 20 May 2019 at 22:23hrs | | by Mandla Ndlovu
Mnangagwa sued over RTGS currency
Harare businessman and University of Zimbabwe (UZ) lecturer, Shakespear Hamauswa, has petitioned the High Court seeking a court order to declare unconstitutional the Presidential (Temporary Measures) ...Published: 13 Mar 2019 at 07:13hrs | | by Staff reporter
Our Ponzi country Zimbabwe
A Ponzi scheme, for those unfamiliar with the term, is a way of creaming off money from deluded investors. They initially receive handsome returns but this does not come from profits on their investme...Published: 05 Mar 2019 at 13:39hrs | 1 | by ZimVigil
Time is right for alternative money
THE controversy surrounding the introduction of another local currency continues unabated. This time it was the former Finance minister, Tendai Biti, who ignited the current debate when he announced g...Published: 15 Feb 2019 at 08:24hrs | 9 | by Zimwara
Bond notes and Zimbabwe's currency debate
WHEN Reserve Bank of Zimbabwe governor John Mangudya announced in 2016 plans to issue bond notes, a currency he claimed had the same value as the US dollar, many were apprehensive.It was backe...Published: 30 Nov 2018 at 09:43hrs | | by Staff reporte
Africa could be the next frontier for cryptocurrency
Experts say conditions on the continent are great for virtual currency Interest in cryptocurrency, a form of digital currency, is growing steadily in...Published: 06 Jun 2018 at 14:44hrs | | by Pavithra Rao
Five years of nothing, a manifesto of hot air promises
The Zimbabwean people have been dragged into a bottomless, many rue the 2013 election, the election has turned out to be a late July fool's day dummy. Many false promises were made by ZAN...Published: 22 Mar 2018 at 14:08hrs | | by Jacob Mafume
Bitcoin dips below $10,000
Bitcoin has traded below $10,000 for the first time since early December.The value of one bitcoin fell to $9,958 (£7,222) before making a slight recovery, according to the price index run by ...Published: 17 Jan 2018 at 13:39hrs | 6 | by BBC
Mnangagwa's Ponzi scheme
An obscure Cairo-based bank has advanced Mnangagwa the money to launch Zanu PF Mark II in its new PF incarnation as the pragmatic fascist party - rather on the lines of the Egyptian regime itself. ...Published: 17 Dec 2017 at 15:19hrs | | by Zim Vigil
2008 here we come again, History repeating itself - Mashakada
MDC-T deputy Secretary general Tapiwa Mashakada has said the economy is fast slipping into the 2008 scenario of a Ponzi scheme where speculative and profiteering markup pricing is taking place every d...Published: 26 Sep 2017 at 07:43hrs | | by Stephen Jakes
Latest pyramid scheme to hit Bulawayo
On Saturday morning, a horde of well-dressed young men and women turned their backs on the glass doors of a three-star city hotel in disappointment.The man who they had dressed up for had not ...Published: 25 Jul 2017 at 07:22hrs | | by Staff reporter
2 000 Zimbabwe civil servants duped in Ponzi scheme
A Ponzi scheme has duped over 2 000 investors, mainly civil servants, of more than $100 000, the Daily News can reveal.Lucky Butau, Nobuhle Butau, Angela Butau, Dumisani Buta...Published: 14 Jul 2017 at 14:41hrs | | by Staff reporter
Mnangagwa a hallucinating clown - PDP
Mnangagwa's utterances published in yesterday's Herald in which he claims that banks are sitting on US$9 Billion are not only insane but prove that he is just but a hallucinating clown.Politic...Published: 16 May 2017 at 09:34hrs | | by Jacob Mafume, PDP Spokesperson
Tobacco farmers failing to get cash
Tobacco farmers are struggling to get their money at auction floors, as the country's severe cash crunch continues to worsen.This is despite the government's recent directive to banks ...Published: 19 Apr 2017 at 06:29hrs | | by Staff reporter
Zimbabwe panics as wheels come off
With Zimbabwe's economy continuing to die - as manifested by rising poverty levels, worsening job losses and severe cash shortages - the government is showing signs of panic, amid fresh warnin...Published: 15 Apr 2017 at 14:53hrs | | by Staff reporter
Get rich quick ploy backfires for 16
A Harare man allegedly duped 16 people of over $230 000 after promising them 100 percent interest in a fortnight on every cash investment.Kudakwashe Brilliant Madzwawa (24) appeared before...Published: 06 Apr 2017 at 06:43hrs | | by Staff reporter
'Mugabe's govt running a Ponzi scheme,' claims Mashakada
Former US president Ronald Reagan once observed that government was like a big baby - an alimentary canal with a big appetite at one end and no sense of responsibility at the other.In Zimb...Published: 03 Apr 2017 at 07:30hrs | | by Staff reporter
Zimbabwe blow billions of 'fictional' dollars
As Zimbabwe's clueless government continues to blow billions of "fictional" dollars that it does not have - on trinkets and its bloated workforce - experts have issued a fresh warning that the cou...Published: 09 Mar 2017 at 08:44hrs | | by Staff reporter
Varsity education - a giant ponzi scheme
University education in yester Zimbabwe produced the crème de la crème of society; not because government evoked a bottle neck system, but like an ecosystem, the education system had a way of ...Published: 13 Feb 2017 at 11:03hrs | | by Patience Rashai
US$ shortage spurs pyramid schemes
ZIMBABWEANS have taken to developing their own unique pyramid schemes to get hard cash as the hunt for the United States dollar intensifies.Amid growing shortages of the dollar from the market...Published: 05 Feb 2017 at 07:58hrs | | by Staff reporter
The lawful offenders in opposition ranks
The opposition forces fronting the regime change agenda have never embraced the tenets of democracy, at the core of which is the need to uphold the constitution so as to facilitate the prevalence of l...Published: 06 Sep 2016 at 11:03hrs | | by Sambulo Vuma
Thousands lose money to MMM Global Zimbabwe
THOUSANDS of people, among them civil servants and vendors, have lost thousands of dollars to fraudulent online pyramid scheme MMM Global Zimbabwe after it collapsed recently.The social financ...Published: 03 Sep 2016 at 09:25hrs | | by Felex Share and Reason Razao
EcoCash distances itself from MMM and Ponzi Schemes
EcoCash has distanced itself from MMM and Ponzi Schemes. Econet issued out a notice to all stakeholders advising that it has noted that some of these Pyramid schemes are allegedly advertising in a m...Published: 02 Sep 2016 at 10:46hrs | | by Ndou Paul
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