Liyeplimal and CHY Mall have come underneath fireplace by the Le Conseil Régional de l’Epargne Publique et des Marchés Financiers (CREPMF).
Based on CREPMF, Liyeplimal and CHY Mall are “unauthorized actors … gathering irregular funds from the general public” within the area.
CREPMF has flagged Liyeplimal and CHY Mall as “funding gives promising excessive returns”.
Neither firm is registered to supply securities throughout CREPMF’s jurisdiction.
CREPMF is a part of the West African Financial and Financial Union. It contains member states Benin, Burkina Faso, Cote D’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.
Of its member states CREPMF has particularly singled out Benin, Niger and Togo as being in danger.
CREPMF’s warning is the second issued towards Liyeplimal throughout the area. Final October COSUMAF issued a comparable securities fraud warning.
CHY Mall obtained a securities fraud warning from Ghana again in January. Earlier this month Rwandan authorities labelled the corporate a pyramid scheme.
BehindMLM has reviewed each Liyeplimal and CHY Mall. In each cases we concluded the businesses have been working as Ponzi schemes.