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The proprietor of the Liyeplimal Ponzi scam, Emile Parfait Simb, has been arrested in Cameroon.

Authorities pulled up Simb on May 26th at Duoala Airport, according to Business in Cameroon.

He was on his way to Morocco and was about to board an aircraft.

Simb’s Global Investment Trading Ponzi scam was rebooted as Liyeplimal.

Liyeplimal failed in late 2021 after several regulatory warnings across Africa, where the majority of investors were attracted.

Simb relaunched his Ponzi scam in January 2022 with a new shitcoin. The revival of Liyeplimal lasted less than two months before crumbling once more.

Simb was detained when the Public Prosecutor of the Yaoundé Court of First Instance issued a warrant for him to appear, according to Business in Cameroon.

According to our information, a hundred Liyeplimal customers filed a fraud lawsuit against Global Investment Trading in early 2022 after not receiving their return on investment.

Emile Parfait Simb, the company’s legal representative, has been summoned multiple times since February but has never turned up.

Simb has also been charged with “severe fraud,” including money laundering and insider trading, according to CamerounWeb.

Simb was supposedly granted bail on Friday, despite the seriousness of the accusations.

Simb must forfeit his Cameroonian passport as part of his bail terms. What can this prevent, as CamerounWeb points out when he believes he has many passports, including one from the Central African Republic?

According to certain informed sources, (Simb) is well-protected inside the state apparatus, including the judiciary, police, and security apparatus.

Simb’s present whereabouts are unclear following his release on Friday.

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