Chinmark Group, an investment firm owned by Marksman Chinedu Ijiomah, has yet to return the investors’ money, eight months after being called by the Securities and Exchange Commission (SEC).
This was made known by one of the investors, who, on condition of anonymity, told the IFJ that he had not yet received his 5 million naira from the Enugu-based company.
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He said that on Jan. 19, 2022, Chinmark asked investors for a three-month window to start payment, but failed to deliver.
“They opened a Telegram group where they asked all of us to sign a Memorandum of Understanding (MoA) on how our capital would be paid. He signed our formed MoAs with the agreement that he would give us a post-dated check, but he didn’t. We agreed to mediate, but he ghosted us,” the investor said.
“He even promised to sell assets and pay us back by December this year. He sold assets for a lot of money, but he didn’t even pay anyone, not even those who invested 200,000 naira .
FIJ had reported how Chinmark Group failed to pay its nearly 5,000 investors their returns despite promising payouts.
Ijiomah asked for patience, promising to pay the company’s investors. He also continued to reassure his partners that their money was safe, but a few facts stood in contrast to his claims.