E-Creator Ponzi Scheme Trial Begins

Munyaradzi Mashiri- Court Correspondent

The trial of Jao Zhao Jiatong and William Chui—accused of orchestrating the E-Creator Ponzi scheme that defrauded investors of over US$364,647—kicked off yesterday at the Harare Magistrate’s Court.

Both men pleaded not guilty to charges of fraud.

Magistrate Francis Mapfumo presided over the proceedings, which were adjourned to Thursday for continuation.

Jao, represented by lawyer Moffat Makuvatsine, and Chui, represented by Claude Bare, are alleged to have masterminded the fraudulent scheme through E-Creator Electronic Commerce (Private) Limited.

The State intends to call key witnesses, including prominent social media personalities Cleopatra Tarisai Munetsiva, popularly known as Madam Boss, and Admire Mushambi, known as Mama Vee.

In his defense outline, Jao emphatically denied involvement in any fraudulent activity, insisting he never claimed to operate a lucrative investment platform.

He further distanced himself from the establishment and operations of E-Creator, asserting that any connection to the company was purely circumstantial.

Jao claimed his acquaintance with a man named Thomas began by chance at a Zimbabwean airport, and their relationship remained social. He also stated he had never met Billy, another individual linked to the scheme, until the charges were laid.

Jao argued that due to his limited English proficiency, he could not have communicated with the State’s witnesses and expressed shock at his arrest, noting that no incriminating evidence had been found on him or his mobile device.

He has remained in remand prison since 2023.

Chui similarly denied the charges, asserting his innocence.

Prosecutor Loveti Muringwa alleged that Jiatong and Billy masterminded the pyramid scheme in 2023, luring victims with promises of high returns. The accused allegedly used several EcoCash lines registered under the company’s name to collect funds.

The State further claims that Jiatong, Chui, and their associates were aware that the platform was fraudulent and incapable of generating profits, yet continued operating it to deceive investors.

Between late February and early March 2023, Jiatong and Thomas allegedly expressed interest in cryptocurrency trading to Nyasha Mudzamba, who then introduced them to Chui. Chui, who runs a digital marketing and crypto business, is believed to have helped facilitate the scheme.

The accused allegedly converted investor funds into cryptocurrency. Billy was purportedly introduced as a proxy to conduct transactions on their behalf when they were unavailable.

Court testimony revealed that large sums of money were withdrawn from the EcoCash accounts, with approximately US$250,000 reportedly channeled through an agency operated by Blessing Julias.