Liyeplimal’s Ponzi reboot collapses in less than two months
The Liyeplimal Ponzi scheme has collapsed for the second time.
The original Liyeplimal, built around Limo and XAF Ponzi points, collapsed in the lead up to Christmas.
In an attempt to keep the money rolling in, owner Emile Parfait Simb rebooted Liyeplimal with LimoCoin SWAP.
That lasted until until February 14th, wherein once again Liyeplimal collapsed.
As reported by Business In Cameroon on February 18th, Liyeplimal investors have been protesting outside the company’s Cameroonian offices.
Why Liyeplimal still has offices in Cameroon is unclear. Authorities there have been aware of the Ponzi scheme since late 2020.
In the wake of Liyeplimal’s second collapse, Simb appears to have gone into hiding.
To get the accused party’s comments on the wave of protests, Business in Cameroon contacted Emile Parfait Simb.
The goal was to find out whether ‘investors’ have been scammed and if the promoter has left Cameroon as rumors claim.
However, all the questions came unanswered. Instead, we got automated replies on Whatsapp. “I’m no more on Whatsapp.”
Supposedly Simb is pushing his own messaging app.
Simb, a Cameroonian national, runs Liyeplimal through Global Investment Trading.
Total Liyeplimal investor losses are unknown. Given Liyeplimal’s run though, I’d be surprised if losses didn’t at least run into tens of millions.
Pending further developments, stay tuned…
Update 30th May 2022 – Emile Parfait Simb was arrested in Cameroon on May 26th.
He is facing fraud charges related to money laundering and insider trading offenses.
Hey Oz, thanks for the update. But this is WAY bigger you imagine: Liyeplimal claims 300,000 subscribers. This seems not too far off since 100,000 people have LimoCoin on their watchlist onCoinmarketcap.
There have been recent testimonies of single individuals having “invested” 140,000 Canadian Dollars. Fair bet its at least a total of hundreds of millions, maybe a billion USD.
Also, it is connected to the LEO ponzi you wrote about. Please send me an email! Cheers and thanks for you work!!!
Connected to LEO via recruitment or at an executive level?
Liyeplimal has been around a while so wouldn’t be surprised if it’s one of the bigger Ponzis to collapse.
Executive Level, concept, everything except subscribers. On Youtube, watch “Arnaque Liyeplimal : Cette dame fait des révélations choquantes” on Phil Simo’s Channel “Investir Au Pays”.
Minutes 40-42 show screenshots of Martin Brochu and Emile Simb when working with Dan Andersson of LEO.
The video is in French but the person being interviewed is a Canadian citizen by the name of Sabine Ntsama. She has a pending lawsuit against Liyeplimal.
I guess she’d be confortable in English, too, and I reckon she’d love your advice.
Anyways, she explained that she thinks Brochu is the actual mastermind behind Liyeplimal, and that Simb and Brochu just overtook LEO’s activity, including the website when Andersson was jailed in Pakistan for LEO.
The whole story is out now on youtube and in French speaking Africa, but Simb still uses his twitter and gives interviews on LaToken.
I still hope it’s not too late to nail down these guys….
So in essence, Liyeplimal was Simb’s spinoff of the LEO Ponzi scheme.
That’s in addition to BeOnPush, Game Loot Network and MGlobally, which I noted in BehindMLM’s original Liyeplimal review.
I’ve not seen Brochu front Liyeplimal, never heard of the guy so that’s interesting.
Brochu is still in the official brochure of Liyeplimal which is on the Liyeplimal website. He is presented as “communication director”, next to Simb (ceo), Koumbou (dev&innov), Tarek (tech dev).
The only white guy, can’t miss him. Also appears in plenty of the “official” youtube videos.
A friend of mine went all in with this investment scam, thinking she could make 15,000% interest in 1 year!! Tried to tell her it’s a scam, but didn’t listen.
Waiting to show her this article, then the SH*T hits the fan!!!