Pyramid scheme

  • Courts and Law

    Grandpa (73) kidnaps Ponzi scheme cashier, extorts US$120,000 at gunpoint

    A 73-year-old man reportedly kidnapped and extorted US$120 000 from a cashier who was employed by a Ponzi scheme firm in Borrowdale, Harare. Ackim Hunda was not asked to plead when he appeared before Harare Magistrate Judith Taruvinga charged with kidnapping and extortion. He is alleged to have kidnapped Patricia Kuzomba and Marufu Chipondoro from Mabvuku at gun point and…

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  • Local

    Pyramid scheme collapses, angry loss-makers threaten to kidnap kid

    FACED with financial hardships and an insatiable appetite for quick profits, thousands of Rusape and Nyanga residents are sinking their money into pyramid schemes, amid promises of high returns, only to be left in worse financial positions as the schemes collapse. The money spinning schemes are spreading like wildfire across the province and leaving a trail of crushed spirits. Following…

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  • Local

    Nyaradzo Funeral employee in US$80,000 pyramid scheme mess

    MORE than 400 people besieged Mvuma Police Station baying for the blood of a 60-year-old woman who initiated a pyramid scheme that collapsed and prejudiced them of more than US$80 000. Police arrested Rudo Takaendesa (60) employed by Nyaradzo Funeral Services in Mvuma who initiated Devine Gifting Club in December last year. Members quickly gathered at the police station when…

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