The promoter of Global Investment Trading was arrested on May 26 in Douala for fraud and breach of trust. He left Cameroon under unclear conditions. Investigation.
Where did Emile Parfait Simb go? Released under bail following an arrest on May 26, the promoter of Liyep Limal, a cryptocurrency platform, reportedly left Cameroon a few days ago, according to some sources. This should increase the fears of subscribers who have taken legal action. Emile Parfait Simb was arrested on May 26, 2022 at Douala International Airport for fraud and breach of trust.
According to our sources, the man was about to leave the country when he was arrested. After his arrest, he was transferred to the Yaoundé Judicial Police Department for questioning. After two days of hearing, he was finally released on bail. Emile Parfait Simb had been arrested following an arrest warrant signed by the prosecutor of the Yaoundé Administrative Center Court of First Instance. Me Albert Oyié, a lawyer from the Collective Universal lawyers and human rights defense explains that for two months, a complaint for fraud and abuse of office had been filed with the direction of the judicial police against the founder of the companies Simb Group and Global Investment trading.
After the filing of the complaint a preliminary investigation was opened to see clearly in this case. The subscribers were heard by the investigators as well as the promoter of the platform Liyep Limal. The lawyer adds that there was talk that the investigation could continue by confronting the subscribers with the CEO of Liyep Limal. A confrontation which was blocked because of the absence of perfect Emile Simb who did not respond to the summons of the investigators of the judicial police.
Faced with this attitude, the subscribers’ lawyers asked the prosecutor to sign an arrest warrant. The arrest of Emile Parfait Simb is part of the execution of the arrest warrant signed by the prosecutor in order to advance the preliminary investigation opened a month ago at the direction of the judicial police of Yaoundé. The lawyer for the Collective Universal lawyers and human right defense affirms that more than 100 subscribers of Liyep Limal have filed a complaint against Emile Parfait Simb. It is exactly 105 people of 16 different nationalities, including the United States, Canada, France, Germany, Belgium, England, Switzerland and even Côte d’Ivoire, Benin, Burkina, Senegal. This complaint is justified by the fact that these subscribers have been desperate for two years. “Subscribers have not had access to their account for two years to be able to check their investment, worse still the promises of gain made by the promoter of Liyep Limal to subscribers have remained only a simple illusion”, declares the lawyer.
For several weeks, Liyep Limal subscribers have been demanding their money from the promoter. The lawyers of the subscribers affirm that the company of Emile parfait Simb proceeds to illegal collections of funds to young Cameroonians by way of public call for savings. Proceedings have been initiated against GIT and its promoter Emile Parfait Simb. Legal proceedings have been initiated in Cameroon. For the collective of 105 subscribers who claim the equivalent of 5 billion CFA francs, it is led by Me Dominique Nicole Fousse.
Other actions are carried out in the United States of America and in Canada. These are procedures for money laundering, market manipulation, fraud and breach of trust. Constitutions are also made in European countries where victims live. Lawsuits are also announced against the coaches who served as intermediaries. Emile Parfait Simb, who did not respond to the message we sent him to get his reaction in this case, claims more than 20,000 customers in Cameroon. He says he owns 23 companies specializing in several fields. The boss of Group Investment Credit has made a name for himself in the world of cryptocurrency.
His brand Liyep Limal (poverty is over) has been controversial for several months because of the concerns of subscribers who complain of not having access to their accounts. Faced with these multiple complaints from subscribers, Emile Perfect Simb explained in February 2022 that it is a false noise well orchestrated by a group of individuals to manipulate opinion in order to undermine the activity of a Cameroonian much adored elsewhere in the world. At the start of 2022, Emile parfait Simb explained that the disruptions observed by subscribers are justified by the fact that since December 2021, the company has taken a new turn in the face of the changes it was facing:
“We have gone from a private crypto-asset investment platform to a decentralized public platform of cryptocurrency with the creation of limocoin. The transition is continuing and the results to date are very promising,” said Emile Parfait Simb in a press release in which he promised subscribers that everything would return to normal from June 2022. Cryptocurrencies are virtual digital assets , which unlike a currency, does not depend on a State or a banking organization.