SAN FRANCISCO, January 25, (THEWILL) – Chuddy Ugorji, the initiator of the Nigerian faction of the Mavrodi Mondial Moneybox ponzi Scheme (MMM) has fled the country with his wife, Amaka.
NAN reports that the MMM Number one Guider has absconded and relocated to Philippines.
He fled the country when many investors were awaiting anxiously to be paid back their money with the agreed interest.
Chuddy’s relocation came barely 24 hours after he released condition for the payment of some three million Nigerian investors.
He had given the impression that the Ponzi Scheme has started paying outstanding mavro (money) to Mavrodians, the participants of the scheme. But the payment is just symbolic.
Meanwhile, the scheme on Wednesday issued new guidelines on its blog. The guidelines include a decision to set limit of withdrawal this week at N31, 000 maximum withdrawal on your PO.
It added that freezing of bonuses is a suggestion that would be tabled before Sergey Mavrodi for his consideration.