One month stretch in custody for E-creator directo...

One month stretch in custody for E-creator directors as bail is denied

In a related case, alleged founder and suspected mastermind of an Online Ponzi scheme, E-creator, Zhao Jiaotong and his accomplices - Trymore Tapfumaneyi and Justin Kuchekenya - have been denied bail.

The three appeared at the Harare Magistrates' Courts Friday facing fraud and money laundering charges.

Magistrate Marehwanazvo Gofa is presiding over the case.

Jiaotong has been in custody since Thursday last week and Tapfumaneyi and Kuchekenya since Friday.

Gofa told the three that they were a flight risk and, as a result, they had a likelihood of absconding trial.

"Accused one, Jiaotong, is a flight risk and can abscond if granted bail. In Fact, all accused are flight risk and if granted bail they will abscond trial.

"This reason of likelihood of absconding court is a strong reason to deny bail," the magistrate ruled.

Between February and July this year, Jiaotong is alleged to have made misrepresentations to people that if they invested with E-Creator, they would enjoy huge monthly profits depending on the amount invested.

This enticed people to join the company as many invested huge amounts of money through EcoCash numbers that they were being given.

They also used the influence of ZTV, popular socialites Tarisai Cleopatra Munetsiwa, popularly known as Madam Boss and Admire Mushambi, also known as Mama Vee to make the company known to the masses.

The three also used social media and through advertising, many people flocked to their channels.

As a result Zhao and his accomplices took more than US$1 000 000.

They were remanded to August 24 for their routine remand.