The high-profile E-Creator Ponzi scheme trial has been temporarily halted after one of the accused, Billy Thomas Syedou, reportedly suffered a stroke, prompting the court to delay proceedings until his recovery.
Syedou, who is the second accused person in the case, was issued with an administrative warrant of arrest after his lawyers informed the presiding magistrate that he was medically unfit to attend court. The matter has been provisionally postponed to November 17, when his legal team is expected to update the court on his health status and ability to stand trial.
Syedou is being jointly charged with Zhao Jiaotong, the alleged mastermind of the E-Creator Economic Commerce Private Limited scam that defrauded thousands of unsuspecting Zimbabweans of their hard-earned savings earlier this year.
According to court papers, Jiaotong and Syedou registered E-Creator in January 2024, presenting it as a legitimate online e-commerce platform based at Joina City in Harare’s central business district. The pair allegedly misled investors into believing they would receive lucrative monthly returns based on the amounts they invested.
Thousands of Zimbabweans reportedly poured in investments of up to US$1,000 each, making payments via EcoCash to numbers linked to the accused. The company quickly gained popularity, partly through an aggressive marketing campaign that included hiring social media personalities Madam Boss and Mama Vee as brand ambassadors. E-Creator also employed agents across major towns and cities to expand its reach.
However, the glamorous image soon crumbled. On July 3, 2024, investors began experiencing difficulties accessing their funds. When they approached E-Creator for explanations, they were told that a “system upgrade” was temporarily affecting withdrawals and were assured the issue would be resolved soon.
Two days later, on July 5, panic ensued when subscribers discovered a notice on the company’s website announcing that E-Creator had ceased operations. The post also displayed a photograph of Zhao Jiaotong, alleging that he had taken the investors’ money and fled to China. When victims rushed to the company’s offices, they found them shut down and deserted.
The scam is believed to have defrauded thousands of Zimbabweans of millions of dollars, making it one of the biggest Ponzi schemes to hit the country in recent years.
