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.

🤖 Quick Answer

What was the Liyeplimal Ponzi scheme?
Liyeplimal was a fraudulent investment scheme operated by Emile Parfait Simb, initially based on Limo and XAF Ponzi points. After its first collapse near Christmas, Simb attempted a reboot using LimoCoin SWAP to continue attracting investor funds before the scheme collapsed again in February.

Why did Liyeplimal's reboot fail so quickly?
The LimoCoin SWAP reboot lasted only until February 14th before collapsing. The scheme's unsustainable model, characteristic of Ponzi structures, could not generate sufficient returns to satisfy investors, leading to its rapid failure and subsequent investor protests in Cameroon.

What happened after the second collapse?
Following Liyeplimal's second collapse in February, investors protested outside company offices in Cameroon

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