The trial for the E-Creator Ponzi scheme has hit a brick wall after one of the defendants suffered a stroke, causing the court to pause the proceedings until he recovers.
Billy Thomas Syedou, who is the second accused, was issued with an arrest warrant after his lawyers informed the magistrate about his health condition.
The trial is now scheduled to continue on November 17, when his lawyers will update the court on his recovery status.
Syedou and his co-defendant, Zhao Jiaotong, are accused of running the Ponzi scheme.
They allegedly set up their company, E-Creator Economic Commerce Private Limited, in January of this year, based in Joina City, Harare.
They marketed the business as an online e-commerce platform, promising investors high monthly returns based on their contributions.
Many Zimbabweans invested large sums, up to US$1,000, through the provided Ecocash numbers.
To promote their business, they hired well-known figures like Madam Boss and Mama Vee as brand ambassadors and enlisted agents in major cities across the country.
However, issues arose on July 3, when subscribers had difficulties accessing their funds.
The company claimed it was a temporary system upgrade, but on July 5, they shocked everyone by announcing on their website that they were ceasing operations.
The notice indicated that Jiaotong had fled to China with the investors’ money, leading to the closure of their offices.
