Chinmark Group Is Back, 2 Years After Vanishing With Investors’ Billions

Chinmark Group Is Back, 2 Years After Vanishing With Investors’ Billions

 

More than two years after Chinmark Group vanished with billions of naira belonging to numerous investors, the company made an online appearance on Wednesday.

The investment company had been silent since 2022 when its failure to pay thousands of investors their funds headlined the news. Many Nigerians cried out for their money without getting a refund.

At exactly 12:03 pm on Wednesday, the company made an announcement on its Facebook page via a post with the heading: “A New Dawn for Chinmark Group”.

“We are back, stronger and more dedicated to our mission of creating impactful solutions and empowering communities. With fresh vision and renewed commitment, we’re building a brighter future — together.
“Ad astra per aspera” — Through hardships to the stars. Join us on this journey. The future awaits!” it stated.

Hours later, Chinmark Group made two more posts, requesting Nigerians to “follow us as we build a brighter future through global investments and community empowerment”.

 

Although the comments section of the three recent posts on the Facebook page was locked, FIJ observed that they have garnered thousands of reactions altogether.

When FIJ checked the Instagram account of Marksman Chinedu Ijiomah, the Chief Executive Officer of Chinmark Group, the same posts appeared there.

The UK number (+44 7897 014077) on the Facebook page of the company is the same as the one on Ijiomah’s Instagram page.

A screenshot shared by a Facebook user, seemingly from Ijiomah’s account, displayed the following message: “Your N10m gives you N480,000 monthly in Chinmark partnership. Let me be your manager 09084442018.”

When FIJ dialled the displayed number, an automated voice revealed that it had been barred from receiving calls.

THE PAIN CHINMARK GROUP CAUSED INVESTORS

What killed Nuella (not real name) in April 2022 was the disappointment of losing up to N30 million belonging to her family to Chinmark.

In March 2022, FIJ reported how Chinmark came under fire for failing to pay its investors. Nuella was one of the 5,000 investors owed by the company.

Before then, the Securities and Exchange Commission (SEC) had confirmed both Chinmark Group and FINAFRICA Investment Ltd., its associate, to be illegal investment companies in December 2021.

“The commission hereby notifies the investing public that neither FINAFRICA INVESTMENT LIMITED nor Chinmark Group is registered by the SEC and the investment scheme promoted by these entities are also not authorised by the SEC,” the Commission declared to the shock of many investors.

SEC would then go ahead to block the bank accounts of Chinmark Group. By February 2022, investors had started crying out for their funds and the company promised to pay by March 19, 2022.

On March 19, Chinmark Group failed to pay its investors as promised. The company issued a statement, claiming that it had started making payments and asking them to be more patient.

A source told press on March 27, 2022, that the company’s CEO was planning to flee without paying the investors their funds. There were also claims that the authorities in Enugu State, where his head company was located, were shielding him.

By August 2022, many investors had lost any hope they had of recovering their funds. Over two years later, there is still no report indicating he repaid his investors.

FIJ