10 000 people lose US$32m in pyramid scams- says police

At least 10 000 people who fell prey to fly-by-night pyramid schemes within the last year have filed police reports across the country after being swindled of over US$30million by scammers, who snatched the cash and skipped the border.

Zimbabwe Republic Police, spokesperson Assistant Commissioner Paul Nyathi has noted.

“Millions of dollars were lost, some lost houses while others committed suicide upon discovering they would have been duped.

“We have handled suicide cases related to Ponzi schemes,” Asst Comm Nyathi said.

Meanwhile, the police is on record warning members of the public to be wary of scammers.

With the pyramids schemes victims are told to pool funds to be given to one person in the group, with hopes that their turn to also get the money will come.

However, most scammers upon receiving the money they just disappear thin air.

Zwnews