Tag Archives: Sergey Mavrodi

Just In: MMM launches in Ghana.

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The creation of the Mavrodi Mondial Moneybox (MMM) in Kenya and Ghana, approximately 48 hours after its activities in Nigeria were suspended for a month, has caused increased panic among its Nigerian participants.

Chiamaka Ugorji, the wife of Chuddy Ugorji, a leading MMM Nigeria promoter, attempted to calm nerves by writing an open letter to participants, but this failed to reassure Nigerians that their investments were safe.

Some individuals, who spoke to the News Agency of Nigeria on Monday in Abuja, shared their thoughts on the issue.

A civil servant, Charity Okafor, said “I participated in the scheme twice by investing N500,000 and one million naira respectively and I got my money back with the large interest.

“However, I felt I should not participate in the scheme any longer and I am lucky I had people around me who convinced me not to reinvest.

“I know I would have turned into a crazy woman if I had money there during this suspension,” Mr. Okafor said.

Ebube Okoh, a housewife, said that she believed the launch of MMM in Ghana and Kenya had everything to do with the Nigerian chapter.

According to the website, the ban on withdrawals is due to negative reports by the media, heavy workload experienced by the system, and an attempt to prevent problems during the New Year.

“I, however, believe that they have run out of people to get money from to pay back the large investments that were coming into the system.

“I believe the money obtained in Kenya and Ghana will be used to make up for the deficit in Nigeria, besides both countries have higher currency values when compared to the Nigeria naira.

“The launch in Ghana and Kenya can’t be a coincidence.”

Gregory Bello, an engineer, said “I have money in the programme, but I am not as upset as other participants because it is a small amount of money compared to others.

“The money I put in is the interest I got from my last investment. I am one of those hoping the system comes back in January for the sake of our sanity.

“I have friends who put in millions of naira and have either suddenly fallen ill or are showing signs of depression.

“I just pray that MMM Nigeria has not crashed because many people will commit suicide or turn crazy,” Bello said.

BREAKING: Panic, confusion grip Nigerians as MMM freezes all confirmed accounts

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Members of the famous money-doubling scheme, Mavrodi Mundial Moneybox, MMM have been thrown into panic and great confusion, Tuesday, following the message from the ponzi scheme freezing all confirmed Mavros, otherwise known as money due for withdrawal for one month.
Sergey Mavrodi of inventor MMM Sergey Mavrodi of inventor MMM This means, all the accounts of members who are due to be paid after having ‘provided help’ (PH) to another person since the last month have been frozen and hence, have no access to request for payment, known as ‘Get Help’ (GH) until after one month. All members woke up with the shock message displayed on the screen as soon as they logged into their accounts. Giving reasons for freezing the Mavros, the scheme said it is experiencing heavy workload and want to deal with the attacks coming from the country’s mass media.
It also said it wants to prevent hitches in the coming new year hence, the freezing of the access to requesting for payments even when such person is due for payment. mmm freezing notice mmm freezing notice.
The message read thus: “One-Month Freezing of Confirmed Mavros” “Dear members!” “As usual, in the New Year season the System is experiencing heavy workload. Moreover, it has to deal with the constant frenzy provoked by the authorities in the mass media.”
“The things are still going well; the participants feel calm; everyone gets paid – as you can see, there haven’t been any payment delays or other problems yet – but!.. it is better to avoid taking risk.:-)) (Moreover, there are almost three weeks left to the New Year.)”
“Hence, on the basis of the above mentioned, from now on all confirmed Mavro will be frozen for a month.” “The reason for this measure is evident. We need to prevent any problems during the New Year season, and then, when everything calms down, this measure will be cancelled. (Which we will definitely do.:-))” “We hope for your understanding, Administration”
Panic Quarters Lamentations:
In a WhatsApp group, MMM Nexus Solution, members of the ponzi scheme, many who are Guilders, have launched their displeasure over the new development. Many have lamented that they don’t know how to communicate the development to their downliners (Those they persuaded to stake their money in the ponzi scheme).
They also argued that this decision of the scheme’s management will trigger the downfall of the scheme. They said most people will hence, be skeptical in staking their money while a good number of them said such decision is selfish and would have been better if it was conveyed to members before now.
One of the members with the name, Rosy, said thus: ” This rule is obnoxious, unscrupulous, provocative, insensitive….they did not advise them well, evil prophesy coming to pass.”
Another, Samroyal said: “it shouldn’t have been now when both the media and govt are predicting that it will soon collapse thereby trying to discourage people from it.”
Another member lamented thus; ” One of my down lines was supposed to pay 50k today and he has just called me to tell me he isn’t paying again till this is sorted out. Exactly my point. If millions GH in January, how will the system manage that, bearing in mind that this act of suspension of GH this period will discourage many people from joining; who will pay the January GH?”
And yet another member lamented thus: “I am a member of NBA Abuja branch, tomorrow, we have a seminar on lottery, gaming, casino, MMM etc hosted by Nat lottery Comm. I have been a strong MMM advocate amongst Abuja lawyers, what do i tell them tomorrow?”

MMM founder, Sergey Mavrodi writes to President Buhari

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Sergey Mavrodi, founder of MMM, has written an open letter to the Nigerian government to justify the importance of the popular Ponzi scheme.

The News Agency of Nigeria (NAN) reports that the letter was displayed on the page of all participants of the scheme.

Mavrodi warned the federal government that if the Ponzi scheme collapses, millions of Nigerians will suffer, noting that “MMM is their only means of livelihood”.

He stated that the money being made from the scheme was being redistributed among Nigerians as a way of “restoring social justice”.

The letter reads in part: “So far MMM has come under a constant attack from you. In this regard, I would like to ask you a few simple questions. Since you are concerned with the interests of millions of your fellow citizens, I hope that you would be so kind to answer them.

“What are you trying to get? Do you want the MMM System to collapse and millions of people to suffer? Who will support them then if now MMM is their only means of livelihood? Will you? You even don’t pay wages to people? Or might you not care about them? Might you be using a trendy topic to make a good name for yourselves? What will you say to a mother who will have no money to buy food for her child? Will you let her child die for the sake of the higher interests of the economy?

“You say that MMM is a scam. What is the scam here, if all members are warned in advance about all the risks, the possible and impossible ones? They know there are no investments at all. The warning is a red text on a yellow background placed on most prominent place of the website.

“You say that MMM is bad. Why? Yes, it produces nothing, but nothing gets out of the country either. The money is just redistributed among the citizens of Nigeria. It gets from those who are richer to poorer ones, in this way restoring social justice. What’s wrong with that?

“You have repeatedly stated that “it should be investigated!.. researched!..” It means you know nothing about this System yet; you even haven’t understood how it works.

“And finally. If you know what is right for people, why is the life so bad in the country?”

He further noted that the MMM “has been working in Nigeria for a year, and according to your estimates, the total number of members now is about 3 million people”.

The Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have previously warned Nigerians against participating in the scheme while the house of representatives also ordered an investigation into the operation of the scheme, in October.