They caught Kunaishe Madongorere red-handed for scamming investors. The Morelife Zimbabwe boss tricked people out of almost $200,000 through his bogus investment scheme. The court found him guilty on 131 fraud charges. His punishment includes a $500 fine, plus he must pay back all $197,300 to his victims before June 2025.
His company also broke the law. They ran a deposit-taking microfinance business without proper registration, violating the Microfinance Act. Madongorere attracted victims through social media posts promising fast money. He convinced people they'd receive their cash plus huge interest after waiting a short time. The scheme worked at first but crashed when everyone wanted their money back. The fraudster started avoiding investors who demanded payments, forcing them to call the police.
His company also broke the law. They ran a deposit-taking microfinance business without proper registration, violating the Microfinance Act. Madongorere attracted victims through social media posts promising fast money. He convinced people they'd receive their cash plus huge interest after waiting a short time. The scheme worked at first but crashed when everyone wanted their money back. The fraudster started avoiding investors who demanded payments, forcing them to call the police.
