A man has been arrested in Douala, believed to have been attempting to make away with money made from a Ponzi scheme.
Emile Parfait Simb, reports say, was picked up at the Douala airport by the judicial police. He had been head of a Ponzi scheme which crashed leaving investors in tears.
Boris Bertolt reports that the scheme amounted to 300 billion FCFA.
The suspect is said to have emptied his bank accounts, transferred his assets to other pseudonymes and had supervised the burning of his farm in Kribi, South Region the day before his arrest.
He is believed to have been planning to escape to Morocco when he was picked up following an arrest warrant issues by authorities in Yaounde.
The detained is one of many others running similar Ponzi and investment schemes. Weeks back, over 200 investors in Buea-based TeksGlobal said they were dragging the enterprise and its owner to court for mismanagement of their funds and obtaining money from them under false pretenses.
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