As over 10,000 investors in the Chinmark Group stand losing Billions in investment, some of the investors have called for the arrest of Marksman Ijomah, Amanda Chisom and other principal officers of the doomed investment firm.

The calls for their arrest followed the inability of the firm to pay a return on investment popularly called ROP to their multitude of investors since December 2021.

9news Nigeria had reported how the company failed to investors their ROP and ROI which the company later pleaded to be given 45-60 days.

While Ijomah is the founder of the company, Amanda Chisom is the brand ambassador who lured thousands of investors into the scheme.

Financial experts say investors stand to lose more than N10 billion in the scheme, describing it as a ponzi.

Ijomah is also said to have restructured ownership of physical assets belonging to the firm, removing his name and that of his wife as directors.

For instance, a CAC search on Chinmark’s group companies showed that Mr Marksman Ijiomah had changed the name of the hotel at Enugu from Chinmark Suites to Bridge Suites.

He removed his name and his wife’s names as the Directors of the hotel and used different sets of people.

A lawyer, Collins Ogonnaya Arikor said that due to the restructuring, investors can’t attach the hotel to recover their investment if they don’t get paid since the existing fact presupposes that Marksman Ijiomah doesn’t own the hotel.

“So while people are busy thinking there is an asset on ground – the hotel, there’s basically nothing.

“The other companies – i.e. the mall, logistics, food, real estate etc – are merely existing on paper. What we call “shell companies” in law. There are no verifiable businesses that can be linked to the companies. There are no assets linked to the companies.

On FinAfrica, the company peddled as the investment arm of their group, the lawyer explained that the object of the company, as registered by the CAC, is “general merchandise”.

“There is absolutely nothing remotely like investment in the business of FinAfrica. In any event, the company’s accounts are allegedly frozen by the law enforcement agencies, so how and where will the money to repay investors come from?

“Well, I shouldn’t be surprised, but I am. Honestly. If this isn’t a premeditated, calculated plan to defraud people of their hard-earned monies then I don’t know what else to call it”.

Another lawyer, Azubike Ihemeje described Chinmark businesses as a ponzi.

According to him, Chinmark Ponzi scammer may have defrauded close to 10 Billion Naira he swindled from the public.

On 25 December 2021, the Security and Exchange Commission, SEC, warned Nigerians against investing in FinAfrica.

The government regulatory agency in a statement said “The attention of the Securities and Exchange Commission, Nigeria (“SEC”) has been drawn to the activities of an Illegal Operator (FINAFRICA INVESTMENT LIMITED).

“The Company claimed to be an Investment Company that engages in Business Development in Commercial sectors of the economy and uses the funds in entities under Chinmark Group.

“The Commission hereby notifies the investing public that neither FINAFRICA INVESTMENT LIMITED nor Chimark Group is registered by the SEC and the Investment Scheme promoted by these entities are also not authorized by the SEC.

“In view of the above, the general public is hereby WARNED that any person dealing with the within named Company in any capital market-related business is doing so at his/her own risk”.

https://9newsng.com/chinmark-ceo-in-trouble-as-investors-call-for-his-arrest/

Some people are lazy and too greedy

This is the reason they keep falling for Ponzi schemes

Zylus group will end up like this too


Nigerians will not learn.

We have said it countless times, any business that doesn't involve buying and selling and tells you to bring someone as a downline is a Ponzi scheme.

Sooner or later, it will fold as all Ponzi do.

Wish them the best.

Thought this man is a Billionaire ?

The man always dash out free money for philantropy purpose

same story same set of greedy people, most of our rich folks can't invest on there neighbors or immediate family but ones they hear money doubler they will have money to invest, if some of them use the money to invest on Artisans even if they are not getting huge money they is bet of constant allowance probably till there death.

If you see how he is dashing money eeh,even how he spend it on his family,you would think he is rich independently,he has purchased Europeanpassport for his family,they are there now and bet you he is prepared for this time,next na to japa

Nigerians , especially Southerners don,t learn

Ntooor to all the investors. Use your brain to invest, once you receive your ROI the first time, quit immediately. But some people are too greedy to even borrow to invest and the trap will catch them.

Sunshyne200:
We have said it countless times, any business that doesn't involve buying and selling and tells you to bring someone as a downline is a Ponzi scheme.

Sooner or later, it will fold as all Ponzi do.

Wish them the best.

This is not enough. Times are hard all over the world because of Covid-19 that has terribly disrupted the global supply chain and cash flow.

So, businesses need excellent managers to run them now, else they will collapse. Genuine businesses collapse and it has nothing to do with Ponzi.

It happened since last month na

SmartPolician:


This is not enough. Times are hard all over the world because of Covid-19 that has terribly disrupted the global supply chain and cash flow.

So, businesses need excellent managers to run them now, else they will collapse. Genuine businesses collapse and it has nothing to do with Ponzi.

So what kind of business are they into? Where are their rigid assests?

Aje

E Don be ohh

Before you will get a good investment company in Nigeria, you go Don loose all the money wey you get, see umano o umano for instance

Nonpartisan1:


So what kind of business are they into? Where are their rigid assests?

People like you read, but you don't understand.

Activecode Business Hub Ltd. Theophilus Ogumbe has also absconded with Investors monies and locked up his offices and disappeared. All his phone numbers not going through. This fraudster is nowhere to be found.

SmartPolician:


This is not enough. Times are hard all over the world because of Covid-19 that has terribly disrupted the global supply chain and cash flow.

So, businesses need excellent managers to run them now, else they will collapse. Genuine businesses collapse and it has nothing to do with Ponzi.

Yeah they do, which we don't fault.

But having to tell you to bring someone and that one brings another is pyramidal and its bound to fail.

expertman:
Thought this man is a Billionaire ?

The man always dash out free money for philantropy purpose

Free money or those you don't work hard to get are easily dashed out or wasted. You collect people's savings and be flying business class. Well Nigerians won't learn at all.

Chaiiii nahwaoooo.

I respected the man so much cos of his philanthropy life style.

And heard he has many mansions in the south and Dubai so all that mansions nah just audio ?

property123:


Free money or those you don't work hard to get are easily dashed out or wasted. You collect people's savings and be flying business class. Well Nigerians won't learn at all.

ChEkWaSIyKe:
Ntooor to all the investors. Use your brain to invest, once you receive your ROI the first time, quit immediately. But some people are too greedy to even borrow to invest and the trap will catch them.

even this doesn't work ... lost my 200k to MBA with this mentality ROI I no see, capital I no see. Best is run very far away from shits like this. God punish all Scammers!!!

Double standards. Isnt it the same business he is doing that Nnamdi kanu is doing? Why didn't they call for Kanu's arrest?

He did not even kill anyone or destroy igboland. Just money.

People no dey learn.

Greedy people looking for an overnight fortune

.... Lol. This no be breaking news nah. Guys don dey fine am tay tay for Enugu.

I see am one night for one bar at new heaven Naso him dey hide. But Wetin concern me. Nigerians too like easy way out.