The Fee de Surveillance du Marche Financier de L’Afrique Centrale, higher often known as COSUMAF, has issued a securities fraud warning towards Liyeplimal.
BehindMLM reviewed Liyeplimal again in July 2020. Evaluation revealed Liyeplimal was a part of Simb Parfait’s International Funding Buying and selling Ponzi manufacturing facility.
COSUMAF’s warning is directed to residents of Cameroon, and states Liyeplimal provides “monetary merchandise with out having the required approvals”.
That is the equal of a securities fraud warning.
Oddly sufficient COSUMAF’s October nineteenth warning isn’t accessible on its web site.
A number of native information sources nevertheless have run the story nevertheless (Monetary Afrik, VA Magazine), so I’m placing it right down to COSUMAF’s web site being horrible to navigate and me not talking French.
In an odd flip of occasions, on October twenty first COSUMAF put out a “corrective press-release” pertaining to International Funding Buying and selling.
The corporate International Funding Buying and selling SA informs the general public that following an inner malfunction, an info leak was discovered regarding the correspondence of the Central African Monetary Market Surveillance Fee ( COSUMAF) dated October 13, 2020.
On this correspondence, the monetary market regulator has simply given its settlement to the institution of a authorized and operational framework for the supervision of its actions.
The COSUMAF correspondence indicating its settlement for the institution of an applicable authorized framework for the actions of energetic cryptos, follows the request of International Funding Buying and selling SA which seeks help on this progressive financial sector.
International Funding Buying and selling SA takes all needed steps to determine these answerable for this malicious intrusion and due to this fact apologizes for the inconvenience this may increasingly have prompted to all gamers within the financial and monetary system.
I haven’t seen this leaked October thirteenth doc so I’m unsure what COSUMAF is correcting. International Buying and selling Funding doesn’t seem on COSUMAF’s October nineteenth warning listing.
Being a Ponzi manufacturing facility, International Buying and selling Funding is already regulated beneath securities regulation.
It appears COSUMAF has made the blunder of figuring out Liyeplimal as an unregistered securities scheme, however failed to appreciate (or ignored) International Funding Buying and selling is successfully its father or mother firm.
Regardless, neither Liyeplimal or International Funding Buying and selling are registered to supply securities in any jurisdiction.
On the time of publication Alexa ranks Cameroon (44%), Burkina Faso (12) and Madagascar (6%), as the highest three sources of site visitors to Liyeplimal’s web site.
Liyeplimal, International Funding Buying and selling and their proprietor Simb Parfait function out of Cameroon itself.
Whether or not COSUMAF or Cameroonian authorities take any additional motion towards Parfait stays to be seen.