Liyeplimal is a Multi-Level Marketing(MLM) Company operating in the Cryptocurrency niche market based “out of Douala, Cameroon”. It is an offshoot of Global Investment Trading. Simb Emile Parfait owns both Liyeplimal and Global Investment Trading. But no, Liyeplimal is just one of those Ponzi schemes raking wealth for their owners while using Cryptocurrency as an escape route.
History has its place everywhere. It has found its place in the MLM world too. A quick look at Parfait antecedent should give investors a reason to be doubtful of Liyeplimal.
Prior to founding Liyeplimal and Global Trading Investment, Parfait promoted MGlobally, BeOnPush, and Game Loot Network. Game Loot Network combined was a pyramid scheme and a securities fraud while MGlobally and BeOnPush were Ponzi schemes. It would definitely not be too subjective to assume that Liyeplimal and Global Trading Investment are just the two of the indelible spots on the leopard, Emile Parfait.
As it is the norm with most Ponzi schemes, Liyeplimal has no investible asset, product, service, or business. All its markets is its affiliate membership. Liyeplimal’s base, like most businesses grounded on affiliate recruitment, is weak and subject to a crash.
Commissions and bonuses are the tools Ponzi schemes use to incentivize affiliate recruitment and to pressurize existing investors to risk it all. Liyeplimal is no different. It pays referral commissions to its affiliates using the Unilevel compensation structure which places an affiliate atop a unilevel team of personally recruited affiliates. In this Pyramid-like structure, recruited affiliates are sorted down into a theoretically infinite number of levels.
The unilevel compensation structure also helps Liyeplimal to shuffle newly invested funds in order to create an illusion of earnings amongst its affiliates.
Liyeplimal claims it is the “largest and most experienced platforms for buying and selling Cryptocurrencies in Africa”. Liyeplimal “shitcoin” is the limo. Affiliates invest in limos which are then converted to XAF ( Central African Franc — the official currency of Gabon, Cameroon, Republic of Congo, Chad, Central African Republic, and Equatorial Guinea.)
A high limo investment equals an advertised high return on investment. This implies that Liyeplimal uses the pay to play model which is Cardinal to Ponzi schemes.
It should also be noted that affiliates who invest at Liyeplimal would have to wait for 52 weeks, yes 52 weeks before they can assess their returns. This gives parfait and his cohorts enough time to rake in wealth and cash out.
Liyeplimal offers a passive investment opportunity which constitutes a security offering. There is no verifiable proof, however, that Liyeplimal has been certified by any Securities and Exchange Commission in any jurisdiction it is soliciting investments from.
MGlobally failed, Game Loot Network crashed, BeOnPush crashed, Simbcoin is currently facing a lot of market scrutiny, and here comes Liyeplimal – another trick in the old book. Liyeplimal too would be short-lived. Affiliate recruitment at some point would stall and there would be no revenue to feed existing investors prompting cash out from parfait and early adopters. The majority of investors would count their losses.
