Douala: 300 billion FCFA Ponzi scheme owner arrested in escape attempt

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.

————————————-
The Mimi Mefo Info Team, (MMI) appreciates all your constant support.

We are driven by the fact that you remain our only source of inspiration, as we continue to gather, write and publish stories without fear or favour.

These are, however, very trying times for several journalists, especially for MMI whose reporters have to brave all the odds to work remotely for fear of reprisal attacks.

That’s why we continue to ask for your constant support.

How to support us!

*Please share our website link with friends and loved ones daily


*You can also support our dynamic team working day in and day out to keep you up to date, with any amount.

Use the following payment methods:

PayPal: contact@mimimefoinfo.com

Mobile money: +237679135573

Bank Transfer: Account name: MIMI MEFO INFO LTD
IBAN: GB49TCCL04140456360181
SWIFT/BIC: TCCLGB3L
Intermediary bank SWIFT: BARCGB22 (only use if required by sender bank)*