Police probe alleged Ponzi scheme ‘mastermind’

A socialite, music promoter and entrepreneur living in the lap of luxury has seemingly gone into hiding after he was fingered as the alleged mastermind behind a Ponzi scheme that saw a string of investors from around the world apparently duped out of millions, reports HeraldLIVE. Tawona Chipunza, a Zimbabwean who became known for his flashy cars and propensity to dress in only white is now the subject of a criminal investigation. Chipunza and his business partner, Lionel Simbi, allegedly convinced the complainants to pump $250 000 into their company, Maximus Capital Investments, with the promise of massive returns in a short space of time. But now, four years down the line with several active police probes across the world, including SA, Chipunza and Simbi cannot be traced, while their investors are desperate to see the promised profits. Police spokesperson Colonel Priscilla Naidu confirmed that the matter is under investigation. One complaint was laid by a Gqeberha resident. A number of Zimbabwean media outlets have also reported on the alleged dodgy deals centred on Chipunza, including alleged run-ins with loan sharks and schemes to allegedly dupe Cabinet Ministers and church leaders out of their money as far back as 2020.

Full HeraldLIVE report