MMM reopens members’ accounts before schedule

MMM reopens members’ accounts before schedule

Friday, January 13, 2017 12:38 pm


The founder of the MMM financial pyramid scheme Sergey Mavrodi. AFP/Getty

The founder of the MMM financial pyramid scheme Sergey Mavrodi. AFP/Getty

From the look od things, MMM, the Ponzi scheme is back. Accounts of members were frozen in December 2016. Now the authorities of MMM have re-opened.

According to Naij.com, there was panic on Tuesday, December 13, 2016, among participants when the scheme froze all confirmed Mavros, saying it would resume operations after one month.

MMM's letter

MMM’s letter

Many thought the money doubling scheme was gone for good and made fun of MMM members.

The scheme had said it would resume on January 14 but it has resumed a day earlier. Apparently, the scheme is not ready to say goodbye yet.

A message on its website said it resumed a day earlier because of the hysteria and buzz by authorites and the media.

The Nigerian government has warned the public against investing in the Ponzi scheme.

Report surfaced recently that members of MMM Nigeria were planning to meet with the House of Representatives’ committees on finance and banking and currency to seek for government’s recognition of the scheme.

Meanwhile, MMM Nigeria has released new guidelines for participants for 2017.

Credit: Naij

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