Another Ponzi Scheme? 4,500 aggrieved investors drag Chinmark CEO Marksman, Facebook influencer Chisom

Marksman Ijiomah, Amanda Chisom and Harrison Gwamnishu

About 4,500 aggrieved investors have lashed the Chief Executive Officer and Chairman of Chinmark Group, Marksman Ijiomah, over unpaid funds invested in the company despite many deadlines given for refund.

Caught in the web also include a social media influencer and brand ambassador for the “investment company”, Amanda Chisom; as well as another social media promoter of Chinmark, Harrison Gwamnishu.

The outraged investors, for days, have launched trials on social media, dragging Chinmark, Ijiomah, Chisom, Gwamnishu and all those who promoted the company on Facebook, Instagram, Twitter and other social media platforms.

The pained investors lamented losing their hard-earned money to Chinmark while alleging that the group was fraudulent.

It was learnt that the investors were promised mouthwatering return on investment to commit their funds running into billions of naira in Chinmark said to be into real estate, logistics, hospitality, and food businesses.

500 investors paid, 4,466 will be settled —Chinmark CEO

In a statement on his verified Facebook page, Chinmark CEO (Ijiomah) confirmed that his group received funds from “4,966 partners”, noting that “500 partners” have been paid so far but he had yet to publish the names of those that had received payment.

While he did not reveal the total amount received from all the investors, a receipt of a refund to an investor he posted on Facebook read N1.3m.

The Enugu-based businessman also pleaded with the remaining 4,466 investors to remain calm, saying that the operational bank accounts of his company were frozen by the Securities and Exchange Commission.

He also noted that Chinmark has received “lots of petitions from government agencies by aggrieved partners”.

Ijiomah wrote, “From the proceeds of our business (Hospitality, Transportation, Food and Logistics) despite our operational bank accounts being frozen by Securities & Exchange Commission (SEC) on December 21, 2021 till date, we resumed payment to our partners on March 16, 2022; so far, out of 4966 partners, we have been able to pay 500 partners following an arithmetic order from our backlogs.

“In a bid to show transparency in our dealings as always, full names of paid partners ought to have been published today but several calls/messages/emails from our distinguished partners have further restricted us from doing this.

“Let me reassure you that your money is safe with us and we remain committed to repaying all partners soonest, update on partnership repayment will be provided always and your managers will call to follow up; until then, I would humbly request you to kindly bear with us.”

Chinmark operations illegal —SEC

In a December 25, 2021 press statement on its official website, SEC described Chinmark as an “illegal operator”.

“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,” the statement partly read.

Efforts to confirm from SEC Head of Corporate Communications, Efe Ebelo, whether the Commission froze the bank accounts of Chinmark or not were unsuccessful as of press time.

When contacted on Monday, the Police Public Relations Officer in Enugu State, Daniel Ndukwe, said, “The police is not a debt recovery agency.”

Also, spokesman for the Economic and Financial Crimes Commission, Wilson Uwujaren, told our correspondent that he was not aware of any petition written by the aggrieved investors of Chinmark Group.

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