274 investors drag Teksglobal to court for aggravated misappropriation and fraud

This is another episode of the Tekglobals value chain services alleged scam business as tens of investors cry foul. Previously, the company said everything was in control, claiming that those investors complaining are not patient to get the results of their investment.

But did Tekglobal sell an imaginable future for Cameroonians to invest in and never have their money back?

More than 274 investors have hired the services of Poubom and Partners Law firm over the nonpayment of their dues. The legal representatives have filed a complaint at the office of the State Counsel in Buea, praying for the office to open investigations and criminal proceedings against the founder, Teke Samuel Munjonji and Teksglobal, and value chain services. The complaint also begs the legal department to dissolve the said company.

The Lawyers said investors have coughed out billions into Teksglobal business since 2017 after its creation,

“Our brief is to the effect that on the 28th of November, 2017, One Mr. TEKE SAMUEL MUNJONJI (The Main Suspect) together with some other 11 persons established a business under the name TEKS GLOBAL AND VALUE CHAIN SERVICES LIMITED (TEKSGLOBAL). Under his supposed business strategy he advertised and lured Tens of Thousands of unsuspecting investors (Amongst whom were our Clients) have been compelled to a Registration and sign up for non-refundable fees of Seventy-Five Thousand Francs (75, 000frs)CFA and thereafter invested colossal sums in Billions of Francs CFA.”

The Lawyers have said their clients are now living in fear since they cannot have access to their money, coupled with a porous financial and judicial system.

“The actions of the Main Suspect have left our clients in a constant state of fear as to how vulnerable Our System is especially our Financial and Justice System. We believe that the actions of the Main Suspect and TeksGlobal constitute the offenses of Theft, Aggravated Misappropriation, and fraud amongst others. Considering the amounts and the Tens of Thousands of investors involved, we urge the State to take
immediate action to avoid a breach of the peace.”

Among others, they want the legal department to:

1. That The Legal Department of Buea carry out and/or
   supervise an Investigations into the claims of Our Clients against TEKS
   GLOBAL AND VALUE CHAIN SERVICES LIMITED and MR TEKE SAMUEL
   MUNJONJI.
   That the investigations with a view to Criminal dissolution of a Company should be able to
   to specifically include but not limited to the following;
   A. To carry out a verification of all assets acquired, disposed and the recording
   and adequate documentation of such assets by either TEKS GLOBAL AND or
   MR TEKE SAMUEL MUNJONJI from its inception in 2017 till date.
   B. The recording, adequate documentation, and verification of;
    Investors fees
    All incomes received during the period including credit, cheque, and cash
    All expenditures including credit, cheques, and cash
    All books and records of original entry
    Payroll including adequate employment and termination procedures and
   compliance with the Labour Code and Social Security of Employees
    The verification of cash and bank balances and
    Whether TeksGlobal has complied with its obligation enshrined in its Articles
   and Association.

There are tongues wagging as some investors fear that Mr. Teke is trying to use his closeness to the Prime Minister, Dion Ngute to escape from justice.

“We are disappointed that so far so good, the government has not taken any action…It is absurd that somebody can scam Cameroonians to the tune of over 18 billion and it’s not a big issue.” one of the lawyers, Barrister Legenju Vitalise told CNA.

Also read: Innocent investors just want to be paid, many causing conflict are enemies and have nothing to lose-Teks Global fires back – Cameroon News Agency

Is Teks Global value chain company another investment scam? – Cameroon News Agency