Bevern Capital Pyramid Scheme Bosses On The Run
ZRP is looking for Bevern Dzinoenda and Ambrose Chikukwa who were running a pyramid scheme in Harare and Kwekwe for contravening the Banking Act after allegedly operating a money-laundering business, The Herald reports.
Chikukwa and Dzinoenda were a scheme that would take deposits of various sums and promising their benefactors a return in a week, which according to the publication violates the Banking act.
A third partner in their business, Richard Boutros Samunda was arrested and has already appeared before a Harare magistrate after he was charged with violating the Banking Act, with prejudice to the State of US$2 million
According to the state’s case against Samunda who is in custody:
Sometime in 2018, acting in connivance with Dzinoenda and Chikukwa, he formed Bevern Capital for purposes of accepting deposits from people and invest the money into an unknown enterprise.
The trio, through their company, would return the money to the depositors after six weeks with a 50 percent interest.
On August 14 this year, the Reserve Bank, which is the sole regulator of banking institutions’ activities, received information to the effect that Bevern Capital was taking deposits from people.
Investigations by the RBZ revealed that the trio, through their company, were not registered either under the Banking Act or the Micro-Finance Act.
2 more Pyramid schemes one that was operating in Kwekwe AB and another one at Joina City have also closed down and subscribers have lost varying sums of money.
More: The Herald