Mavrodi Mundial Moneybox (MMM), the Russian-founded Ponzi scheme which wrecked the lives of so many Nigerians in 2017 is back in business. Apparently, some Nigerians never learned anything from their past experience because they are buying into yet again.
The Ponzi scheme has repackaged itself and is now known as MMM Cooperation. This time around, it is assuring people a 50 percent gain on any amount that is “invested”. This is 20 percent higher than what its obsolete version offered.
The modus operandi is still the same as the one before. Participants are required to register, “invest” a particular amount in the form of “providing help”, and “get help” with their “investment” and interest back after 30 days.
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The scheme had initially closed down in April 2018, after the sudden death of its founder, Sergei Mavrodi. The re-launched version is intended “to make Mavrodi’s legacy worthwhile.” According to a statement on its website;
“Like the sunrise in the morning, MMM Cooperation set the pace on the 22nd of January 2019 all over the world. From negligence by many to fear of the unknown by prospective participants at the beginning; we are where we are today being most populous platform all over the world with 6 million participants all in space of 4months.”
One of its coordinators of the new MMM announced on Twitter that Whatsapp groups have already been created for interested participants. According to tweet, the repackaged Ponzi scheme has been back since January this year.
https://twitter.com/TeeGuider/status/1141335814854598657
The reactions of some Nigerians to this development is rather appalling seeing as so many people were negatively affected when MMM collapsed. The Whatsapp group already has about 243 members since its creation on Tuesday. This means that people are falling again for the same scheme.
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However, some others are enraged seeing as the scheme ripped off so many when it closed down earlier. They are doubting its reality. Here are some of the replies some enraged Nigerian Twitter users gave.
https://twitter.com/luckiest2020/status/1142012863613214720
https://twitter.com/iamegiga/status/1142011801170788354
It should be recalled that one of the newest ponzi schemes in town (Loom Money Nigeria) recently crashed. When angry Nigerians who ignored fair warnings by “investing” in the scheme stormed the Loom office in Lagos earlier this week, they met nobody.
[READ MORE: Before you get ‘Loomified’, beware of the latest ponzi scheme in town]
One Mr. Fatoye Toyin lives in ibadan is among those scrandling people sweat on the (MMM)… He’s among those running the system for there foreign boss. After they give people small payout to convince people the system is still running then they GH back huge payout for their pocket and run down the system to restart again.