Less than a week after suspected Ponzi Scheme/Pyramid Scheme Bevern Capital closed it’s doors the authorities have revealed that the company defrauded its investors of a massive US$2 million through the elaborate scheme.
Bevern Capital, which is sometimes alternatively spelt as Beven Capital, claimed to be an investment firm which guaranteed investors a massive 50 per cent return in just 6 weeks. All the money had to be in United States Dollars, however. The supposedly lucrative returns saw thousands of Zimbabweans rushing to invest their hard-earned money, only for the company to close its doors citing regulatory and compliance issues.
The police have since arrested one of the directors of Bevern Capital, Richard Samunda. However, Samunda’s accomplices and fellow directors of Bevern Capital, Bevern Dzinoenda and Ambrose Chikukwa are still at large and are yet to be apprehended.
Samunda appeared at the Harare Magistrates’ Court yesterday facing charges of duping unsuspecting investors of more than US$2 million in the elaborate pyramid scheme.
According to the State’s case, Samunda together with his 2 accomplices connived in 2018 to form an unregistered company, Beven Capital Private Limited. After forming the company, the trio lured gullible investors by promising lucrative returns of 50 per cent in just 6 weeks. The state alleges that investors lost more than US$2 million to Beven Capital Private Limited and that nothing has been recovered so far.
Samunda was denied bail and remanded in custody to August 24 (Monday) after public prosecutor Sebastian Mutizirwa opposed bail arguing that the accused would interfere with state witnesses.
Of late Zimbabwe has been hit by a spate of similar fraudulent investment schemes which promise amazing returns in a few weeks. Unfortunately, many people are still falling victim to these schemes. Some even invest their money fully knowing that the scheme is fraudulent but in the hopes that if they get in early enough, they will make massive profits.
In the last few weeks, both the Reserve Bank of Zimbabwe and the Zimbabwe Republic Police (ZRP) have been warning people about investing with organisations which are not licenced to take deposits>chaosafrica