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A CITY woman allegedly lost US$7000 in a non-existent Ponzi scheme, a Harare court heard over the weekend.
The suspect, Nashe Murangari, 25, appeared before Harare magistrate, Yeukai Dzuda, who remanded him in custody pending his bail hearing.
The complainant is Rejoice Maraire of Sunridge, Harare.
The court heard that in August 2020, Maraire was introduced to Murangari by her sister-in-law and he lured her into his bitcoin pyramid scheme.
It is alleged that Murangari went to Maraire’s home and explained how the Ponzi scheme would work and convinced her into joining.
Maraire allegedly paid an initial amount of US$1000 and later paid US$200 after being told that the money would mature with a 100 percent interest, after a month.
Maraire was allegedly convinced to make another weekly investment of US$3374 and it was all supposed to mature to US$7653.
It is the State’s case that on the day of collection, September 19, 2020, Maraire called Murangari who told her that the investment had closed and the deal had crashed and there was no money to give the investors.
Murangari continued giving excuses, without paying back the money. Maraire realised that she had been duped as Murangari had no scheme that was meant to benefit her at all, prompting her to file a police report. Anesu Chirenje appeared for the State.
Mathew Masinge
Online Reporter