The owner of CMD Fashions, Consecration Mapuranga, is facing mounting pressure after dozens of people accused him of defrauding them through an alleged high-return investment scheme, prompting a formal request for an investigation by consumer watchdog Matrix ZW.
The scheme, reportedly operating under the banner CMD Investors, is accused of soliciting funds from the public with promises of monthly returns ranging between 50 and 70 percent. More than 50 individuals are believed to have invested varying amounts, with many now claiming they have not received any payouts months after the agreed timelines expired.
According to aggrieved investors, funds were collected on the assurance that returns would be paid within a month. However, several participants allege that payments stalled or never materialised from as early as August, with repeated follow-ups reportedly met with excuses or silence.
As frustration grows, affected investors have formally approached Matrix ZW, requesting the organisation to investigate the scheme, assist in recovering lost funds and help bring those responsible to account.
In complaints submitted to Matrix ZW, investors further allege that the scheme relied on misleading tactics, including unrealistic profit promises and the presentation of alleged proof of prior payouts to build credibility.
Some complainants also claim that Mapuranga frequently invoked the names of senior political figures when confronted by investors, allegedly creating fear and discouraging victims from pursuing refunds or reporting the matter to authorities.
“He would name-drop powerful people, making it seem like he was protected. That scared many of us into keeping quiet for a long time,” said one investor who requested anonymity.
In addition, investors allege that Mapuranga has repeatedly reported critical content about him and his businesses to Meta, the parent company of Facebook and Instagram, resulting in the removal or restriction of posts highlighting the allegations.
According to affected individuals, this has made it difficult for victims to publicly share their experiences or warn others, further fuelling anger and suspicion surrounding the scheme.
Attempts by investors to contact CMD Fashions for clarity have reportedly failed, deepening concerns that the operation may have collapsed or was deceptive from the outset.
Mapuranga has denied all allegations of wrongdoing, insisting that his businesses are legitimate and fully operational. He dismissed claims of fraud and intimidation, urging dissatisfied clients to follow legal procedures.
“All of our companies are working. Anyone with complaints should report the matter to the police,” he said.
Despite the denial, some investors say they are now mobilising for collective legal action, while others are appealing to regulatory bodies and law enforcement agencies to urgently intervene.
Police have not yet issued an official statement confirming whether a criminal investigation has been opened.
The controversy has sparked widespread public outcry and renewed debate over the proliferation of informal and unregulated investment schemes in Zimbabwe, many of which lure the public with extraordinary profit promises before collapsing and leaving investors financially exposed.
Authorities have repeatedly warned citizens to verify investment licences, avoid schemes offering guaranteed or unusually high returns and report suspected fraud early.
As pressure mounts, attention has now shifted to Matrix ZW and law enforcement agencies to determine whether criminal conduct occurred and whether affected investors can recover their funds. Final