Police in Mutare beat several people Wednesday protesting outside the offices of Capital Base, an investment company.
The crowd of people, who invested money with Capital Base, had been gathering outside the offices in the city in the hope of receiving returns.
The company had promised that investors would receive their returns after investing with the company.
The company had vowed to begin payments between Monday this week and next February. But with the approach of the festive season, many investors were eager to receive their money immediately.
When it became clear that Capital Base would not be making payouts, the crowd Wednesday got agitated and tried to force their way into the company offices.
Capital Base called police, who started beating those in the crowd.
Keresentia Kutoma, one of the disappointed investors, said she is worried she may not get her money and is unhappy with the police response.
“We have been beaten by the police and we are taking it further. The police are threatening us and we will go to Chipinge to seek guidance,” said Kutoma.
Another investor, Paidamoyo Borerwe, told VOA that she was devastated by the company's failure to give them payouts.
The police, who attended the scene at the Capital Base, referred questions to their seniors who are reportedly involved in the saga and were unwilling to talk.
A police spokesman for Manicaland Province was quoted two weeks ago saying investigations were in progress.
The management at Capital Base was also unwilling to speak with VOA.
Report By Lordiham Moyo
Speaking Wednesday on VOA LiveTalk, Bernard Samuriwo, member of the Investors Committee with Capital Base, said investors are taking the matter as a civil case.
Samuriwo said from the discussions with investors and the company, Capital Base said it was experiencing challenges in meeting its financial obligations
"When the committee came on board, the matter was already in the hands of the police," said Samuriwo, adding that "after discussions, we thought as investors it was still premature for us a go through criminal proceedings.
It is unknown when Capital Base will begin disbursing funds to investors.