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MMM ponzi scheme moves to Kenya after ‘freezing’ in Nigeria

Emma Nwachukwu



  • Mavrodi Mondial Moneybox (MMM) moves to Kenya after suspending activities in Nigeria

Popular ponzi scheme, MMM has now migrated to Kenya. investigations show that the scheme launched in Kenya a few days after suspending activities in its Nigerian version.

The scheme, which parades itself as a global financial aid network has left many Nigerians reeling in pain after shockingly announcing that all ‘Mavros’ (a currency used for transactions on the scheme’s website) were frozen till January.

MMM Kenya promises a 40% return on ‘investment’, already warnings have been issued by authorities in Kenya.

A little lease of life for MMM Nigeria

A few hours ago, an announcement was made by MMM Nigeria that some mavros will be made available, in batches so that some individuals can get paid. This announcement is coming after some MMM Nigeria officials had an emergency meeting over the matter on Wednesday , November 14th.

A communique from the meeting read;

The freeze periods may even be less than 1 month but it all depends on programmers and how fast they can finish.This year, we will have a new model to help make this community sustainable in Nigeria.We will post clarification with more details about the Frozen Mavro on everyone’s PO. Some Mavro will be released b4 the 30 days release date probably in batches.

Next week we will implement change of guider button on every participants PO. New section in our Personal Office will be installed this week. PH and GH order dispatching has been stopped for a while. Meaning they aren’t matching anyone for the meantime. We will use this period to tackle other issues we have with support.

Prior to this, MMM failed in several countries all over the world. It failed in South Africa, Russia and it was banned in the US and China. Despite several warnings by the CBN, EFCC and even the Nigerian senate, a little above 3 million Nigerians registered on the scheme and over 18 billion naira has been lost following the scheme’s suspension.

In Benue, a man reportedly took ‘Sniper’ insecticide on hearing that the scheme had frozen activities while another beat up his wife for putting their children’s school fees into MMM.

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