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The case caused a scandal in Cameroon and spread all over the world. Liyeplimal. Originally a crypto-active product transformed into cryptocurrency, created by Cameroonian businessman Émile Parfait Simb. Sulphurous character, at the head of the company Global Investment Trading, he is close to certain Cameroonian politicians but also adviser to the Central African president. Lieyplimal, – “poverty is over” in the Bassa language – created 4 years ago, is supposed to have a significant return for its investors. However, for several months, the grumbling of investors who claim to have been cheated and fail to recover their funds has been heard.
The story begins for many in the same way. A relative convinces them to invest in Liyeplimal. ” It looked convincing. She presented me with guarantees, proofs… “. A net rate of return of 2 to 37% per year with the possibility of interrupting the plan at any time, here is the promise made to buyers.
Sabine Ntsama remembers: “ There was a whole publicity behind it. The gentleman had appeared on television channels, the written press, he was awarded trading prizes, I was shown videos where he was with heads of state like the Central African president who was promoting it. There were personalities from the big stars”.
For 4 years Lyieplimal, a party is organized in Bangui. The singer Koffi Olomide is present and promotes Liyeplimal: “ I recommend to all Africans everywhere to join Lyieplimal today in Africa there is no better. »
Sabine Ntsama explqiue: « We were also mentioned personalities from Cameroon and even from the government who invested in the case. So there was all that. Basically, to sum up for you, there were all the elements that suggested that it was a business that worked. Proofs of payment. So that’s how I let myself be taken in by this story. »
Online conferences, promotional videos… Potential investors are particularly encouraged to invest
« So today I tell you that if you want to become a millionaire then place your Limo and in a year we meet! Sabine Ntsama is of Cameroonian origin, she currently lives in Canada. She says she invested around $140,000.
In June last year, it’s a cold shower…
« I make a first withdrawal request which is refused, canceled without explanation. I do a second one the following month because I had to request a withdrawal once a month either by visa card or by bank transfer for those who were from the diaspora like us. I made a first withdrawal request refused, a 2nd refused, a 3rd… Up to 3 withdrawal requests over 3 successive months. No withdrawals. Requests are refused without explanation. »
Victor Mevaa also calls himself a victim: “ It was really my very last savings that I had put in there. And that really pissed me off. I did not know how to bounce back directly. It was really very complicated for me, like for many others. It is complicated. This is a situation that I would not like other people to experience. ‘Cause going through those times is a lot of pain. »
Like Sabine Ntsama, he denounces the change in the terms of the contract along the way. By upgrading from Liyeplimal 1.0 to 2.0. ” 1.0 was a really financial system so we invested our money and we got a return every month. So it wasn’t cryptocurrency, it was really an investment service. But when we go to 2.0 there they really switch us to cryptocurrency. In fact the 2.0 was really the finality, that’s when we realized that in fact it was really a pyramid. »
But the reassuring messages continue
« First security, and transparency. That’s why we went to this phase. »
However, the plaintiffs are certain of this. They are victims of a Ponzi scheme. Sabine Ntsama does not hesitate to compare the Cameroonian businessman to the famous Bernard Madoff. ” What we think, what we understand when we see how it works is that like any Ponzi scheme, they took money from newcomers to pay the first. Until the system collapses. »
Faced with criticism, Émile Parfait Simb – who claims 200,000 users in 125 countries – has expressed himself on several occasions on Cameroonian television channels as well as on his website: “ Investors, those who have invested in cryptocurrency, have just had a problem since September 1 of misunderstanding the new direction the company has taken. »
In May 2021, the Central African Financial Market Surveillance Commission warned against Global Investment Trading and its Liyeplimal, denouncing fraudulent fundraising campaigns.
A core of around 100 people are currently carrying out legal actions in Cameroon, the United States, Canada and France…