Zimbabwean Crypto Fraudster Runs Away With More Than 6 Million Dollars

Martin Mhlanga of Zimbabwe was suspected of launching a Bitcoin Ponzi scheme in the country under the “Cryptoshares”. However, though his disguise was busted before the local police could get him, he vanished from the scene and took away with him US$ 6 Million approximately which he had collected from the Bitcoin fraud scheme. Similarly, those who were allegedly aiding Mhlanga by promoting his fraud scheme on social media platforms too have gone without leaving a trace.

Martin Mhlanga is the man who is currently amongst the most wanted criminals in Zimbabwe. He is wanted by the authorities because he was found involved in launching a Bitcoin Ponzie scheme under the title “Cryptoshares”. It was Mhlanga alone who founded the false scheme with mal-intentions to defraud the general public, especially the investors. He was able to gather quite an audience of investors by enticing him through making false promises. He claimed that if the people would invest, then they could be rich in a month and they would be able to double triple their profits in days.

Some of the victims claimed that they were told that some of the scheme’s investors had been earning US$ 2,000 on monthly basis. However, they had invested only a very little amount of investment, they claimed. The victims were also promised by Mhlanga that their investments would be doubled after a certain period. Upon learning that the members are earning US$ 2 per month, they too decided to invest. However, none happened and in fact, it was revealed to them that the scheme was an evident “crypto” fraud. A few victims of Cryptoshares fraud told that they even borrowed money from banks as well as from family and friends.

The “fraud” of Cryptoshares was busted and revealed to its customers on 1st September 2021. However, till then it was already too late as the mastermind behind the Ponzi scheme had trapped them in his trap. They then found out that they had been scammed.

One of the Cryptoshares customers disclosed his story at Twitter. The customer told that he grew suspicious about the scheme because, in August, the company was delaying the payments to the customers. In fact, the scheme was apologizing to the customers that their due payments were taking time because of some network difficulties. The scheme then advised the customers to be patient and in the meantime, the technicians will resolve the network issue. Once the issue is resolved that the payments could be processed within time.

However, some of the customers approached the local police and informed them about the scheme. Upon investigation, the police found out that the scheme was nothing but a fraud. But before the police could catch the main culprit i.e. Mhlanga, he simply vanished from the scene and nobody is aware where he has gone. Similarly, the team which was doing the marketing work for Cryptoshares at several social media platforms also vanished. Police have informed that Mhlanga, whose whereabouts is currently unknown, has taken away with him US$ 6 Million that belonged to the victim investors.

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