A director of e-Creator, a suspected Ponzi scheme that allegedly defrauded thousands of people of over US$1 million, has been granted bail of US$1,000 by a magistrate in Harare.
Trimor Tapfumani, who had been in remand for more than seven months, was released on bail by Harare Regional Magistrate Mr Donald Nderwe.
His alleged accomplices, suspected mastermind Zhao Jiaotong and another director Justin Kochikenya, remain in detention awaiting trial.
But they intend to apply for bail today using the changed circumstances argument.
It is alleged that in January last year, Chow created an online investment Ponzi scheme called e-Creator.
On 7 February of the same year, in collusion with Tapfumaneyi, Justin Kuchekenya, Billy Thomas Syedou, Abraham Mutambu and others who remain at large, Zhao registered a company with the Zimbabwe Registrar of Companies under the name e-Creator Electronic Commence (Private) Limited under company registration number 2853/23, with its offices In rooms 15 and 16 on the 10th floor in Gwena City, Harare.
The court heard that Chow went on to launch the company as an online e-commerce operator.
He allegedly took deposits from thousands of people who did not receive returns on their investments. Announce
