Quebec’s financial regulator, the Autorité des marchés financiers (AMF), issued a fraud warning on June 29th against Global Investment Trading, which operates under the guise of Liyeplimal. The company is accused of defrauding consumers through deceptive promises of guaranteed weekly returns on cryptocurrency trading plans.
On its website, Liyeplimal presents investment "plans" that allegedly offer secure, weekly profits derived from cryptocurrency trading. The AMF has identified that Global Investment Trading is actively promoting these schemes in Canada, specifically through social media platforms like Facebook. While the company claims a presence through pages like "LiyeplimalCanada," a search revealed an active "Liyeplimal Quebec" page.
The AMF explicitly states that Global Investment Trading lacks any registration with the Autorité des marchés financiers. This means the entity is not authorized to function as a broker or provide investment advice within Quebec, a status akin to a securities fraud warning in other jurisdictions. At present, Canada represents the second-largest source of traffic to the Liyeplimal website, though this figure has decreased from 16% to 3.7% over the past year.
This development follows a prior review by ScamTelegraph in July 2020, which identified Liyeplimal as a Ponzi points scheme orchestrated by Global Investment Trading CEO Simb Emile Parfait. Parfait has a documented history of promoting similar fraudulent multi-level marketing schemes. Furthermore, in October 2020, the African regulator COSUMAF issued its own securities fraud warning against Liyeplimal, indicating a pattern of regulatory scrutiny across different continents.