Police in South Africa have reportedly issued a warrant of arrest for Lionel Simbi of Maximus Capital Investments, while his co-director, controversial music promoter Tawona “Teemak” Chipunza is wanted for questioning, after they reportedly swindled investors of their money through a fraudulent investment scheme.
Teemak and Simbi, who have reportedly been laying low for the last few years, made headlines four years ago after he allegedly duped scores of Zimbabweans living locally and abroad through an investment scam.
The two are said to have duped unsuspecting investors that include cabinet ministers, high net worth earners, church leaders and ordinary folk alike.
The duo is said to have assured alleged victims, dotted around the globe, of massive financial windfalls on their investment.
However, the scheme, with all the marks of serious foreign exchange fraud, collapsed spectacularly at the end of June in 2020.
At the time, their victims based in the United States, Germany, Malaysia, United Arab Emirates, South Africa and China said they had lodged police reports in their various jurisdictions, desperately hoping to draw the attention of Interpol.
In a statement, a South African investigations campaign, Royal Investigations, said they had been on Teemak and Simbi’s trail for the last four years.
“In 2020, Royal Investigations (Pty) Ltd was assigned by an individual who had invested funds in a company associated with Zimbabwean controversial entrepreneur, music promoter and musician, he also claimed to be a self-made millionaire, Tawona Ozwell Chipunza, popularly known as ‘Teemak’ in the entertainment industry.
“At that time, Teemak was a director in a company named ‘MAXIMUS CAPITAL INVESTMENTS’, alongside co-director Lionel Simbi.
“It became evident during our preliminary investigation that they solicited unsuspected investors into a non-existent investment scheme. Ultimately committing theft under false pretenses.
“During our investigation, we uncovered various reports hinting at Teemak’s fraudulent Forex activities and extravagant lifestyle. The investment scheme promised a 50% return within 10 working days, resembling a classic pyramid scheme.
“Once investors received their initial returns, they were enticed to invest larger sums, ultimately resulting in Teemak and Lionel Simbi absconding with the funds,” the statement read.
Royal Investigations said a warrant of arrest had since been issued for Simbi in the Eastern Cape, while police also wanted Teemak for questioning.
“A warrant of arrest has been issued for Lionel Simbi, and Humewood Police is actively seeking Teemak for questioning. Despite exhausting all avenues of search, we urge the public to assist in locating them.
“We are aware of other victims in other parts of the world who were also duped by the duo. I was tasked to investigate and trace both suspects and see justice be done. Their fundamental error was to commit fraud within South Africa’s jurisdiction.
“Although it has taken nearly four years, we are now prepared to hold them accountable. The law’s reach extends far and wide, ensuring they will be brought to justice no matter where they attempt to hide,” the statement read.
Nehanda Radio
<p>The post SA police seek Teemak and partner Lionel Simbi for swindling investors first appeared on Dandaro Online.</p>
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