One of the suspects accused of defrauding thousands of unsuspecting Zimbabweans of over US$1 million through the E-creator Ponzi scheme has been granted US$1 000 bail.
Trymore Tapfumaneyi was released by Harare magistrate Donald Ndirowei who will give full reasons for releasing the suspect in his written judgement.
Tapfumaneyi is jointly charged with the suspected mastermind, Zhao Jiaotong, a Chinese national and Justin Kuchekenya.
The trio were arrested in July last year while another fourth suspect was later arrested in connection with the offence.
They were all denied bail by Magistrate Marewanazvo Gofa on their initial appearance.
The remaining suspects will be filing their new bail application this Friday.
According to court papers, sometime in January, this Jiaotong hatched a plan to defraud unsuspecting Zimbabwean nationals through an online investment Ponzi scheme.
On February 7 2021 and in connivance with Tapfumaneyi, Kuchekenya Bily Thomas Syedou, Abraham Mutambu, Jiatong allegedly registered a company with the Zimbabwean Registrar of Companies styled E-Creator Electronic Commerce Private Limited.
The company had its offices situated at room 15 and 16 10 Floor Joina City Building, Harare.
The court heard that Jiaotong went on to launch the company as an online e-commerce operator with a global internet as its core.
"During the period from February 2023 to July accused misrepresented to unsuspecting Zimbabwean nationals that if they invest with the company, they will enjoy huge monthly profits depending on the amount invested," alleged prosecutors.
The court heard Zimbabweans across the country flocked to the company and invested up to US$1 million through various Ecocash numbers supplied on the platform by the accused.
"To make the company more attractive and appealing to unsuspecting Zimbabweans the accused used the media including the national television broadcaster Zimbabwean Television (TV) social media and powerful Zimbabwean socialites namely Tarisai Cleopatra Munetsiwa also known as Madam Boss, and Admire Mushambi also known as Mama Vee to advertise the company business on their social media platforms to gain more subscribers," prosecutors charged.
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They also employed agents in major towns and cities throughout the country to market the business.
On July 3 2023, some of the complaints encountered challenges in accessing their funds and approached the company for clarifications one of the accused Abraham Mutambu assured these complainants that it was a system upgrade that was preventing them from accessing the funds.
The court heard Mutambu further advising them that the situation would normalise.
On July 5 2023 complainants were shocked to realise that E-Creator Electronic Commerce Private) Limited had sent a notice on their website that they are no longer operating and they posted the passport photo of the accused Zhao Jiatong as the one who had taken their money and absconded to China.
The complainants also visited the accused's known offices and got the shock of their lives that had been permanently closed and there were no signs of business operations.
They got information that the accused person had withdrawn the money and fled.
As a result of the accused's actions complainants suffered an actual prejudice of US$1 000 000-00 and nothing was recovered
