Liyeplimal operates within the MLM cryptocurrency area of interest and operates out of Douala, Cameroon.
Regardless of the corporate’s web site area being registered in February 2018, Liyeplimal claims it was “created in 2017”.
Heading up Liyeplimal is Simb Emile Parfait, cited as CEO and founding father of International Funding Buying and selling.
Liyeplimal’s web site footer states it’s a “International Funding Buying and selling product”.
Previous to founding International Funding Buying and selling and Liyeplimal, Parfait was selling BeOnPush, Recreation Loot Community and MGlobally.
BeOnPush and MGlobally have been Ponzi schemes. Recreation Loot Community mixed pyramid recruitment with securities fraud.
On the time of publication Alexa cites Cameroon (65%), Canada (16%) and Bangladesh (12%) as high sources of site visitors to Liyeplimal’s web site.
Learn on for a full assessment of Liyeplimal’s MLM alternative.
Liyeplimal’s Merchandise
Liyeplimal has no retailable services or products, with associates solely capable of market Liyeplimal affiliate membership itself.
Liyeplimal’s Compensation Plan
Liyeplimal associates put money into limos, that are then transformed to XAF on the promise of marketed returns.
Limos are bought both internally by Liyeplimal or from present Liyeplimal associates.
The present inside limos change charge isn’t supplied on Liyeplimal’s web site.
As soon as acquired, limos are used to put money into XAF factors as follows:
- Abidjan – 100 limos
- Porto-Novo – 200 limos
- Libreville – 400 limos
- Ndjamena – 800 limos
- Malabo – 1600 limos
- Yaounde – 3200 limos
- Pretoria – 6400 limos
- Cairo – 12,800 limos
- Abuja – 25,600 limos
- Dubai – 51,200 limos
- Ouaga – 100,000 limos
The acknowledged conversion charge from limos to XAF is $1 limo to 800 XAF.
As soon as invested in, the above plans pay the next marketed returns over a 365 day interval:
- Abidjan pays a 160 limos ROI
- Porto-Novo pays a 340 limos ROI
- Libreville pays a 720 limos ROI
- Ndjamena pays a 1520 limos ROI
- Malabo pays a 3200 limos ROI
- Yaounde pays a 6560 limos ROI
- Pretoria pays a 13,440 limos ROI
- Cairo pays a 27520 limos ROI
- Abuja pays a 56,320 limos ROI
- Dubai pays a 114,688 limos ROI
- Ouaga pays a 225,000 limos ROI
Observe that whereas funding in XAF is required, returns supplied on Liyeplimal’s web site are supplied in limos.
Referral Commissions
Liyeplimal pays referral commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel staff, with each personally recruited affiliate positioned straight beneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel staff.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
Liyeplimal caps payable unilevel groups at 5.
Referral commissions are paid as a proportion of funds invested (presumed to be limos) throughout these 5 ranges as follows:
- degree 1 (personally recruited associates) – 6%
- degree 2 – 2%
- ranges 3 and 4 – 1%
- degree 5 – 2%
Observe that degree 2 and deeper should be certified for.
Liyeplimal solely present qualification standards for degree 2 on their web site:
- generate 6000 limos in downline funding income and have invested at the least 1800 limos your self
Bonuses in limos are additionally awarded for every unilevel staff degree unlocked. The acknowledged reward for unlocking degree 2 of the unilevel staff is 360 limos.
Becoming a member of Liyeplimal
Liyeplimal affiliate membership is free however participation within the hooked up earnings alternative requires funding in limos.
Seeing as conversion charges are usually not supplied by Liyeplimal, pegging an actual price to Liyeplimal affiliate membership isn’t attainable.
Conclusion
Liyeplimal presents itself as
one of many largest and most skilled platform for getting and promoting crypto currencies in Africa.
In actuality it’s a Ponzi scheme set as much as enrich Simb Emile Parfait and people he works with.
Limo and XAF haven’t any worth exterior of Liyeplimal. They’re created on demand at little to no price by the corporate.
Liyeplimal and present associates offload limo onto new gullible buyers – for no different motive than to build up extra of the factors and offload them at a revenue.
Withdrawals are paid by both new Liyeplimal associates wanting to accumulate limo, or by the corporate itself.
Can I request the reimbursement of my funding pack earlier than the 52 weeks?
No. After getting bought a pack, it’s not attainable to discontinue it earlier than the 52 weeks.
You must watch for the top and by no means renew it if you’d like.
As soon as invested, funds are locked up for 52 weeks earlier than associates can do something. This provides Parfait and early associates loads of time to withdraw and stash away nearly all of invested funds.
The MLM aspect of Liyeplimal in the meantime is straight pyramid scheme territory. Nothing is marketed or bought to retail clients.
100% of commissions paid out are tied to recruitment of latest Liyeplimal affiliate buyers.
On the regulatory entrance Liyeplimal is clearly providing a passive funding alternative, which constitutes a securities providing.
On its web site Liyeplimal offers fundamental incorporation particulars for Cameroon, however fails to offer proof it has registered with securities regulators.
Which means that each in Cameroon and elsewhere, at a naked minimal Liyeplimal is committing securities fraud.
Outdoors of Liyeplimal’s MLM alternative you might have Simtrex, an change no person makes use of (Alexa 2 mill) and LiMarket, a XAF ecommerce platform.
Neither has something to do with Liyeplimal, aside from being setup by the identical individuals.
If you happen to’re keen to miss Liyeplimal being a Ponzi scheme, committing securities fraud and paying pyramid recruitment commissions, one very last thing we’ll have a look at is SimbCoin.
Named after Simb Emile Parfait himself, SimbCoin is a failed International Funding Buying and selling spinoff.
SIMBCOIN is a Token primarily based on the ERC20 system from Ethereum, a sensible contract expertise in Blockchain.
From final October, SMB has been bought to gullible buyers – most of whom are from Cameroon and Bangladesh.
SMB comes with its personal funding plans, which could be bought by Liyeplimal.
It seems Parfait will proceed to launch ERC-20 shit tokens till Cameroonian authorities shut him down or his International Funding Buying and selling Ponzi manufacturing facility collapses.
As with all MLM Ponzi schemes, Liyeplimal will likely be unable to pay withdrawal requests when it runs out of latest funding.
This in flip will occur as affiliate recruitment inevitably slows down.
The maths behind Ponzi schemes ensures that after they collapse, nearly all of individuals lose cash.
Replace fifteenth January 2022 – Liyeplimal has collapsed. Limo and XAF have been deserted.
In early December Simb Emile Parfait rebooted Liyeplimal with LimoCoin SWAP.
Replace twentieth February 2022 – Liyeplimal’s LimoCoin SWAP reboot has additionally collapsed.
Replace thirtieth Could 2022 – Emile Parfait Simb was arrested in Cameroon on Could twenty sixth.
He’s going through fraud fees associated to cash laundering and insider buying and selling offenses.