The return of MMM: Could this be yet another scam?

by Wareez Odunayo

Russian world’s largest Ponzi schemes of all time Mavrodi Mundial Moneybox, MMM participants have reason to smile again as the Ponzi scheme is set to bounce back after it collapsed months ago.

The Ponzi scheme has unveiled a weekly promotional stunt, targeted at gaining the audience of old and prospective participants.

The scheme has been in controversies after it placed a month freeze on all withdrawals from the participant account on December 13, 2016.

The scheme, however, made what appeared as a comeback on January 13 and swiftly placed a limit to the number of withdrawals from old-confirmed mavros (money), drawing wild condemnation from members and making many of them walk away.

In its come back message, which was displayed on the pages of participants account, advising them to invite new members. Members must invite new participants and register them as referrals to qualify for the contest.

They have the opportunity to win cash prizes between N30,000 and N500,000, under an exercise the Ponzi scheme masterminds call, “Promo-Task Contest’.

The Securities and Exchange Commission (SEC) and the Central bank of Nigeria (CBN) warned Nigerians against participating in the scheme which they described as a “Ponzi” scheme.

With the return of the scheme, one can only wait to see if Nigerians will once again ‘invest’ their money as they seek to PH (Provide Help) and GH (Get Help).

 

Comments (4)

  1. scammers
    MMM heavy scammers anybody that falls for it again.Na over mumu dey worry them,MMM pay people back their money,Hunger don’t catch una again,una wan start new method

  2. Until MMM pay me my money, then I will believe them

Leave a reply

Your email address will not be published. Required fields are marked *

cool good eh love2 cute confused notgood numb disgusting fail