State Locks Horns with e-Creator Founder Zhao Jiaotong, Pushes for No Bail!
Notorious e-creator Ponzi scheme mastermind Zhao Jiaotong, along with his accomplices Justin Kuchekenya and Trymore Tapfumaneyi, has been apprehended. Detective Brighton Samaneka presented compelling evidence, opposing their release on bail due to the flight risk they posed.
The trio is accused of defrauding individuals across the country, totaling an astounding US$1 million
Flight Risk and Impending Escape
Detective Samaneka painted a chilling picture of the suspects’ intentions. Zhao was arrested on July 12, on the brink of fleeing the country with the ill-gotten gains from the Ponzi scheme, aiming to evade the court’s reach.
Kuchekenya, responsible for day-to-day operations at e-creator offices in Harare, was also likely to flee due to the gravity of the charges against him. His presence at Joina City building made him easily identifiable and a potential bail risk.
The Rise and Fall of the e-creator Ponzi Scheme
Court testimonies reveal that Zhao devised an intricate scheme in January 2023 to defraud unsuspecting Zimbabweans. The scheme operated through E-Creator Electronic Commerce Private Limited, a registered company (number 2853/23) located on the 10th floor of Joina City Building in Harare.
The Scheme Unravels
As suspicions grew and investors tried to access their funds, the e-creator scheme crumbled, reported chronicle. The accused initially blamed a system upgrade for the issues faced by investors. However, on July 5, 2023, investors were shocked to find the e-creator website displaying a notice of the company’s closure. Notably, Zhao Jiaotong’s passport photo was prominently featured, revealing his involvement in the scheme and subsequent escape to China with their money.
Desperate investors visited the accused’s closed offices, realizing that the funds had been taken. The victims collectively lost around US$1 million, with no recovered funds to date.
Seeking Justice and Exercising Caution
The arrest of Zhao Jiaotong marks a significant step towards seeking justice for those who fell victim to the scheme. The ZRP urges anyone affected by the fraudulent scheme to come forward and report their experiences at the nearest police station.
As the investigation continues, ZRP is determined to hold all those involved accountable for their actions.