Fraudster Nabbed In Court Over Crypto Currency Deal

But Bitcoin's value rapidly moves up and down - meaning the cryptocurrency price of the car could change day to day. Tesla has invested heavily in the digital currency, buying $1.5bn (£1.1bn) worth of Bitcoin.
Bitcoin's volatile price makes its use to buy real-world goods somewhat complicated. For example, Tesla's terms and conditions say if a refund is needed, it can pay in either the exact amount of Bitcoin paid or in US dollars based on the dollar price of the car - whichever it wants.

A Crypto Currency Dealer was nabbed in Court today for a syndicate running the bitcoin crypto share scheme, which is suspected of being a Ponzi scheme. Kelvin Mhindirira (32) appeared at the Harare Magistrates Court charged with fraud on Tuesday, on allegations of duping a client of US$3 000 she had invested.

Mr. Dennis Mangosi, who remanded him to November 11 for his next routine remand did not ask him to plead to the charges. The State led by Mr Anesu Chirenje alleged that Mhindirira duped Rachael Chakanyuka (48) of Chishawasha Hills, Harare.

On July 15, it is alleged, Chakanyuka put US$2 000 into the scheme and she was promised to benefit to the tune of US$2 000 per month within three years. Chakanyuka is said to have initially paid the money to Mhindirira when they met at Joina City in Harare.

He then sent her the Hash ID over WhatsApp number 0772 886 372 as proof of payment, which also acted as their contract. The court heard that on July 29, Chakanyuka paid another US$1 000 in cash to someone called Deborah for the bitcoin anniversary scheme and a motor vehicle scheme.

She was promised to benefit US$1 500 after a month and a US$25 000 car after six months. Upon maturity dates, Chakanyuka made follow-ups with Mhindirira who failed to give her the money. It is alleged that Mhindirira and Deborah later became evasive which led her to report the matter to the police. Mhindirira was then arrested.

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