Yaoundé: Over 100 fall into Money Investment Scam

Much has recently been said about risks of money Investments companies in Cameroon. Despite this, many people are still falling prey to fraudsters and scammers.


Over 100 subscribers to a Money Investment Agency known as Global Insurance Agency, situated in Mokolo, Yaoundé, have remained stranded as the company suddenly shut it’s doors and ceased operations.

A greater majority of the victims are traders, who invested their profits and business earnings in the company — with the hope of making a quick double of the funds within a shorter time frame.


Taken by surprise
The Finance agency reportedly shut it’s doors days to payments of some investors of the company.


The staff of the agency are equally said to have completely parked out of the office, leaving no traces and no explanations for people’s lost funds.


Stranded investors who have gone to the office only to make the shocking discovery have expressed their deepest frustrations and regrets.


“I have invested all my life savings into this thing, so I am still to come to terms with what I have seen. I still cannot imagine I have lost all my money. Where do I start from? Who will want to hear my story?” lamented a victim.


One other added “I invested my money here and they promised me I will get a 40% interest by the end of the month and here we are, and they are nowhere to be found.”


Government’s complicity?
This is not the first time in Cameroon that an investment scheme has scammed multitudes of their hard earned monies.

Few years ago, a similar incident affected clients who invested millions into an investment company called MIDA.

Government intervened and promised to investigate and shut down similar existing businesses. But complaints are still rampant across the country.


Another incident was the Mekit Investment Agency still in Yaoundé which equally shut it’s doors with monies of more than 2 thousand investors of the company.


The manager of the institution was arrested, but the funds swindled have still not been repaid to it’s investors.


(C) Mimi Mefo Info

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