Liyeplimal and CHY Mall have come under fire by the Le Conseil Régional de l’Epargne Publique et des Marchés Financiers (CREPMF).

According to CREPMF, Liyeplimal and CHY Mall are “unauthorized actors … collecting irregular funds from the public” in the region.

CREPMF has flagged Liyeplimal and CHY Mall as “investment offers promising high returns”.

Neither company is registered to offer securities across CREPMF’s jurisdiction.

CREPMF is part of the West African Economic and Monetary Union. It includes member states Benin, Burkina Faso, Cote D’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.

Of its member states CREPMF has specifically singled out Benin, Niger and Togo as being at risk.

CREPMF’s warning is the second issued against Liyeplimal across the region. Last October COSUMAF issued a
similar securities fraud warning
.

CHY Mall received a
securities fraud warning from Ghana
back in January. Earlier this month Rwandan authorities
labelled the company a pyramid scheme
.

BehindMLM has reviewed both
Liyeplimal
and
CHY Mall
. In both instances we concluded the companies were operating as Ponzi schemes.

🤖 Quick Answer

What regulatory action has CREPMF taken against Liyeplimal and CHY Mall?
CREPMF, the West African financial markets regulator, has issued fraud warnings against Liyeplimal and CHY Mall for operating as unauthorized actors collecting irregular public funds. Both entities offer investment schemes promising high returns without proper registration, violating CREPMF jurisdiction across eight member states including Benin, Niger, and Togo.

Which West African countries are identified as most vulnerable to these fraudulent schemes?
CREPMF has specifically identified Benin, Niger, and Togo as member states at heightened risk from Liyeplimal and CHY Mall's unauthorized investment activities. These nations are part of the West African Economic and Monetary Union encompassing eight countries under CREPMF's regulatory oversight and supervisory authority.

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