Emile Parfait Simb, owner of the Liyeplimal Ponzi scheme, has been arrested in Cameroon.

Business in Cameroon reports authorities picked up Simb at Duoala Airport on May 26th.

He was moments away from boarding a plane to flee to Morocco.

Liyeplimal was a reboot of Simb’s Global Investment Trading Ponzi scheme.

Following multiple regulatory warnings across Africa, where the majority of investors were recruited, Liyeplimal collapsed in late 2021.

In January 2022 Simb rebooted his Ponzi scheme with a new shitcoin. Liyeplimal’s reboot lasted less than two months before collapsing again.

According to Business in Cameroon, Simb

was arrested after the Public Prosecutor at the Yaoundé Court of First Instance issued a warrant to force him to appear.

According to our sources, in early 2022, A hundred Liyeplimal subscribers, who were unable to obtain their return on investment, filed a complaint against Global Investment Trading for fraud.

Since February, Emile Parfait Simb, the legal representative of the company, has been summoned several times but has never shown up.

CamerounWeb additionally reports Simb has been charged with “serious fraud”, including money laundering and inside trading.

Despite the serious nature of charges, Simb was apparently granted bail on Friday.

Simb’s bail conditions require him to surrender his Cameroonian passport. As CamerounWeb points out though;

What can this prevent when he thinks he has several passports including that of the Central African Republic?

According to some knowledgeable observers, (Simb) enjoys great protection within the state apparatus and even in the judicial, police and security bodies.

Following his release on Friday, Simb’s current status is unknown.


Update 12th June 2022 – Simb has fled Cameroon. He is suspected of fleeing to Russia but his status outside of Cameroon remains unconfirmed.