Financial scams

MINFI hits the table with his fist

Coming after the Central African Financial Markets Surveillance Commission, Louis Paul Motaze has just banned from any transaction, dubious operators who infest the Cameroonian environment.

The Minister of Finance, in a press release signed on 3 November  2020, summons the mafia companies that use various announcements and publications via communication media, to stop all forms of advertising related to investments in crypto currency. Because, it is through these channels that these rogue operators organise the collection of large amounts of capital without being approved by the competent authorities.

For Louis Paul Motaze, the recess has lasted long enough, and the time has come to put an end to these giant scams which take place in Mondo vision and ruin entire families. He therefore asks these illicit companies “to immediately cease their operations of illegal fundraising by public savings, to return without delay the funds collected from national and foreign economic operators through these illicit operations and to give account to the Ministry of Finance of the unfolding of these reimbursements ”.Among the companies caught in the act of illicit activities, one can count them including Mekit Invest and Africa’Lif for example, which brought the authorities to intervene to stop the bleeding operated on the users. Others such as Petronpay Cameroon, Unique Finance, Crypat, Global investment trading / Global crypto currencies trading, etc., also appear in the press release of the Minister of Finance which rings the charge against the crooks and various scammers who abound in the Cameroonian financial environment. The motive for these fundraisers to which both national and foreign investors subscribe to who are promised exorbitant and unrealistic gains on their investments, is trading in crypto-assets, the MINFI informed.