The Liyeplimal Ponzi scheme has collapsed for the second time.
The authentic Liyeplimal, constructed round Limo and XAF Ponzi factors, collapsed within the lead as much as Christmas.
In an try and maintain the cash rolling in, proprietor Emile Parfait Simb rebooted Liyeplimal with LimoCoin SWAP.
That lasted till till February 14th, whereby as soon as once more Liyeplimal collapsed.
As reported by Enterprise In Cameroon on February 18th, Liyeplimal traders have been protesting outdoors the corporate’s Cameroonian workplaces.
Why Liyeplimal nonetheless has workplaces in Cameroon is unclear. Authorities there have been conscious of the Ponzi scheme since late 2020.
Within the wake of Liyeplimal’s second collapse, Simb seems to have gone into hiding.
To get the accused occasion’s feedback on the wave of protests, Enterprise in Cameroon contacted Emile Parfait Simb.
The aim was to search out out whether or not ‘traders’ have been scammed and if the promoter has left Cameroon as rumors declare.
Nonetheless, all of the questions got here unanswered. As a substitute, we obtained automated replies on Whatsapp. “I’m no extra on Whatsapp.”
Supposedly Simb is pushing his personal messaging app.
Simb, a Cameroonian nationwide, runs Liyeplimal by means of World Funding Buying and selling.
Whole Liyeplimal investor losses are unknown. Given Liyeplimal’s run although, I’d be stunned if losses didn’t no less than run into tens of thousands and thousands.
Pending additional developments, keep tuned…
Replace thirtieth Might 2022 – Emile Parfait Simb was arrested in Cameroon on Might twenty sixth.
He’s dealing with fraud costs associated to cash laundering and insider buying and selling offenses.