{"id":862294,"date":"2025-07-13T21:14:29","date_gmt":"2025-07-14T02:14:29","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/07\/13\/us3-million-in-3-months-harare-businessman-scammed-out-of-us20000-in-bogus-investment-scheme\/"},"modified":"2025-07-13T21:14:29","modified_gmt":"2025-07-14T02:14:29","slug":"us3-million-in-3-months-harare-businessman-scammed-out-of-us20000-in-bogus-investment-scheme","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/07\/13\/us3-million-in-3-months-harare-businessman-scammed-out-of-us20000-in-bogus-investment-scheme\/","title":{"rendered":"\u2018US$3 Million in 3 Months\u2019: Harare Businessman Scammed Out of US$20,000 in Bogus Investment Scheme"},"content":{"rendered":"
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\u2018US$3 Million in 3 Months\u2019: Harare Businessman Scammed Out of US$20,000 in Bogus Investment Scheme<\/strong><\/p>\n

A Harare businessman reportedly lost US$20,000 after falling victim to a fraudulent investment scheme that promised multi-million-dollar returns.<\/p>\n

Also Read:\u00a0Three Zimbabweans Arrested in India for US$127K Cyber Fraud Involving Kola Nut<\/a><\/p>\n

Investment Scheme Promised US$3 Million Return<\/h2>\n

According to\u00a0 The Herald,<\/a>\u00a0 two men \u2014 George Masvipe and Pascal Magama \u2014 approached Mwahowa with a supposed high-yield investment opportunity involving a company named Needflow Capital (Pvt) Ltd.<\/p>\n

Masvipe allegedly promised that if Mwahowa invested US$20,000, his company would receive US$3 million within three months.<\/p>\n

Standby Letter of Credit Used to Lure Victim<\/strong><\/h2>\n

Masvipe is said to have claimed that the investment was for a Standby Letter of Credit (SBLC) \u2014 an international payment guarantee issued by banks \u2014 which Needflow Capital needed to trade on the international market.<\/p>\n

He further stated that the company expected to generate US$26 million from the transaction, of which Terraworld would receive US$3 million.<\/p>\n

Magama was introduced as the person responsible for processing the investment. He went on to sign a Deed of Agreement<\/p>\n

No Returns, No Refund \u2014 Just a Paper Trail<\/strong><\/h2>\n

Believing the deal to be genuine, Mwahowa handed over the funds. However, after the promised returns failed to materialise, he realised he had been duped and reported the matter to the police.<\/p>\n

Netizens Question How a Business Leader Fell for Such a Scam<\/h2>\n

The incident sparked widespread reactions on social media, with many users expressing disbelief over how a company director could fall for such an unrealistic promise.<\/p>\n

Several questioned the logic of expecting US$3 million in just three months from a US$20,000 investment, calling it a clear red flag.<\/p>\n

Others criticised the victim\u2019s business judgment, suggesting that someone in a leadership position should have been more cautious and financially savvy before committing to the scheme.<\/p>\n

@Stanmabuka;<\/strong><\/p>\n

The scammers must come back again saying: Good news Mr Mahwowa, your payment has been processed. Please send US$5000 to enable access to your $33m????<\/em><\/p>\n

@contyhwax;<\/strong><\/p>\n

This person should be blacklisted as a director of any company . He can\u2019t be a principal agent of any business within his mind<\/em><\/p>\n

@VMusinachirevo;<\/strong><\/p>\n

He deserves it even a gonlin can not multiply 20 000usd to 3 million in three months akakaura.<\/em><\/p>\n

@ChatsMorris;<\/strong><\/p>\n

Vanhu vakatomboendao kuchikoro kunze uko hre? What kind of investment gives you more than 500% profit in 3 months ????<\/em><\/p>\n

@dysonchivasa;<\/strong><\/p>\n

But Director havadiwo kumbonyambudzigwa here nemukamasani coz kupusa rudzii uku 20k to 3m on a legit deal <\/em>
\neven ana Guzman i dont think vaiita ma margins akadaro<\/em><\/p>\n

\n\t Follow Us on Google News for Immediate Updates<\/a>\n\t<\/p>\n<\/p><\/div>\n

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\"Audrey\t\t<\/p>\n

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\n\t\t\t\t\tAudrey L Ncube\t\t\t\t<\/a>
\n\t\t\t<\/h3>\n

\n\t\t\t\tAudrey Lee-Ann Ncube is a multilingual writer and reviewer extraordinaire. By day she works as a writer for iHarare.com, crafting creative and engaging content that captivates readers across Zimbabwe. By night, Audrey can be found with her nose in a book, devouring the latest novel or delving into a classic. Whether it’s the latest gadgets, films or books, there’s no review Audrey can’t tackle.<\/p>\n

When she’s not hard at work, Audrey loves to take the time to relax and unwind. She’s a self-proclaimed Netflix aficionado, but she also loves getting out and about for hikes with friends and family. Audrey is the perfect example of a modern, versatile writer that isn’t afraid to take on any challenge.\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

Audrey L Ncube
Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u2018US$3 Million in 3 Months\u2019: Harare Businessman Scammed Out of US$20,000 in Bogus Investment Scheme A Harare businessman reportedly lost US$20,000 after falling victim to a fraudulent investment scheme that promised multi-million-dollar returns. Also Read:\u00a0Three Zimbabweans Arrested in India for US$127K Cyber Fraud Involving Kola Nut Investment Scheme Promised US$3 Million Return According to\u00a0 The<\/p>\n","protected":false},"author":1,"featured_media":862295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[308,43697],"tags":[5238,13371],"class_list":["post-862294","post","type-post","status-publish","format-standard","has-post-thumbnail","category-million","category-us","tag-million","tag-us"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/862294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=862294"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/862294\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/862295"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=862294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=862294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=862294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}