The Sunday Mail
Online Reporter
Four Hwange residents were recently duped of US$18 300 after being asked to invest in a cryptocurrency ponzi scheme, police have said.
In a statement on Tuesday, the Zimbabwe Republic Police (ZRP) urged members of the public to be wary of such scams.
“Members of the public should be wary of fraudsters inviting them to invest their hard-earned cash in ponzi schemes. From January to August 2021, four Hwange residents were duped various amounts adding to US$18 300 after being asked to invest in a crypto shares investment,” said the police.
A ponzi scheme is a form of fraud in which belief in the success of a non-existent enterprise is fostered by the payment of quick returns to the first investors from money invested by subsequent investors.
