The Chinese crook behind the E-Creator ‘investment venture’ that saw thousands of Zimbabweans lose big bucks after he allegedly fled with hundreds of thousands of dollars has finally been cuffed.
Zhao Jiaotong, 39, became the darling of penny-pinchers who sought easy wealth when he launched his pyramid scheme promising ludicrous returns of 100% within a week.
But like all ponzi scams, early ‘investors’ got their money while those who rushed in later got robbed as the con artist conned.
Police spokesman Asst Comm Nyathi confirmed Zhao’s arrest, urging any other victims to come forward.
The catch of the rogue rip-off artist comes as sweet relief for many duped folks who developed hypertension and health woes when news broke last month that Zhao had disappeared with their cash.
A majority had even unlawfully taken money from their workplaces as they were dazzled by the mouth-watering, too-good-to-be-true returns promised by the ponzi scam from hell.
Asst Comm Nyathi warned: “Exercise due diligence before payments to pyramid schemes purportedly offering quick investment returns.”