Proceedings in the E-Creator Ponzi scheme case have been suspended after Billy Thomas Syedou, one of two defendants, suffered a stroke and missed his court appearance. The magistrate issued an administrative arrest warrant following notification from Syedou's legal team about his medical condition. His attorneys are scheduled to update the court on his health status when the case resumes on November 17.
Syedou and co-defendant Zhao Jiaotong face charges related to allegedly operating the fraudulent investment platform through their company, E-Creator Economic Commerce Private Limited, which they registered in January and based at Joina City in downtown Harare. Prosecutors claim the pair attracted thousands of Zimbabwean investors by promising monthly returns on deposits of up to 1,000 dollars made via Ecocash, while enlisting brand ambassadors and agents across multiple cities to promote the venture.
Subscribers reportedly lost access to their accounts in early July, and by July 5, discovered a website notice announcing the operation had ceased, with a post identifying Jiaotong as having fled to China with investor funds. Loveit Muringwa is handling the prosecution.
Syedou and co-defendant Zhao Jiaotong face charges related to allegedly operating the fraudulent investment platform through their company, E-Creator Economic Commerce Private Limited, which they registered in January and based at Joina City in downtown Harare. Prosecutors claim the pair attracted thousands of Zimbabwean investors by promising monthly returns on deposits of up to 1,000 dollars made via Ecocash, while enlisting brand ambassadors and agents across multiple cities to promote the venture.
Subscribers reportedly lost access to their accounts in early July, and by July 5, discovered a website notice announcing the operation had ceased, with a post identifying Jiaotong as having fled to China with investor funds. Loveit Muringwa is handling the prosecution.
