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Shock as fraudster creates fake Charity Charamba's Facebook account
In a press release issued today, Mr. Michael Chiwoneso Mukura, the Spokesperson for the Ministry of Foreign Affairs and International Trade, has alerted the public to the existence of a fraudulent Fac...Published: 08 Dec 2023 at 10:18hrs | 21 | by Mandla Ndlovu
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 | 31 | 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 | 6 | by Staff reporter
'US debt is a pyramid scheme used to defraud other nations'
Senior Russian lawmaker Vyacheslav Volodin has branded US federal government debt a global pyramid scheme that is heading for an inevitable collapse. The comments come as Washington struggles to agree...Published: 26 May 2023 at 16:39hrs | 1 | by Staff reporter
Covid-19 may have exposed the false prophets
It's difficult not to talk about them, I mean the later day gospelpreneurs. Some would call theirs prosperity gospel Prophets since they thrive in flamboyance and opulence, promising their followers a...Published: 07 Sep 2021 at 07:45hrs | 1 | by Thomas Tondo Murisa
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 | 18 | by Zimwara
Police warn against pyramid schemes
POLICE have issued a warning to members of the public to avoid being enticed into investing their hard earned cash into illegitimate "get rich quickly" money schemes as a number of people have been du...Published: 19 Aug 2018 at 07:31hrs | | by Staff reporter
Thousands conned in EcoCash scam
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 appe...Published: 12 Aug 2018 at 09:55hrs | 2 | 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 | 1 | 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 | 1 | by Staff reporter
Mugabe's govt dupes civil servants
Government's non-monetary incentive residential stands scheme has hit a snag after the122 000 signed up civil servants threatened to pull out following revelations that they will have to pay for t...Published: 12 Dec 2016 at 07:44hrs | 1 | by Staff reporter
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 | 1 | 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 | 1 | by Ndou Paul
RBZ warns against MMM Global
THE Reserve Bank of Zimbabwe (RBZ) has warned the public against participating in pyramid and ponzi schemes that fleece them of their hard-earned money by promising "very" high investment returns....Published: 26 Aug 2016 at 06:45hrs | | by Bianca Mlilo
Prophet Magaya is no different from the apostolic sects he attacks
Walter Magaya of PHD Ministries wrote a 4 000-word-long thesis attacking the white garment apostolic churches. Despite the length of the thesis, he raised two points against the white garment apostoli...Published: 22 Feb 2015 at 09:05hrs | 3 | by Tinashe Shamuyashe
Pyramid scheme boss's case further postponed
THE case of the director of Perfect Shot Investments, one of the Bulawayo pyramid schemes that recently collapsed, Kelvin Mazhanda, who is facing charges of swindling several investors of more than $1...Published: 14 Sep 2013 at 05:01hrs | 5 | by Staff Reporter
Zimbabwe's youth bearing the brunt of an inflexible education system
Youth unemployment continues to be a major problem in this Zimbabwe, where youths who constitute a large proportion of the population are still without gainful employment. While several explanations ...Published: 24 Jun 2013 at 10:30hrs | | by Perry Munzwembiri
RBZ to raise minimum capital requirements for microfinance institutions
THE Reserve Bank of Zimbabwe plans to raise minimum capital requirements for microfinance institutions from the present US$25 000 to US$5 million as part of a cocktail of measures the central bank sai...Published: 13 May 2013 at 19:53hrs | | by Staff Reporter
Public warning: Stay away from pyramid schemes!
LEGAL experts have warned people to desist from dealing with unregistered investment schemes that operate as money pyramids because they would have little recourse as the schemes eventually collapse...Published: 14 Feb 2013 at 22:08hrs | | by Staff Reporter
Econet warns on pyramids using EcoCash
Pyramid schemes, schemes that make a few people rich and a lot of people poorer, have once again entered Zimbabwe with this time the con artists using Ecocash to get the gullible to transfer money t...Published: 11 Feb 2013 at 06:26hrs | 1 | by Staff reporter
Money pyramid schemes resurfaces in Harare
ILLEGAL money pyramids, promising huge and easy profits to "investors", though they eventually collapse after the owners have benefitted, have resurfaced in Harare with hundreds of people throng...Published: 09 Feb 2013 at 05:24hrs | 2 | by Staff Reporter
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