For months, millions of Nigerians have been investing and benefitting from the Ponzi scheme, Mavrodi Mondial Movement (MMM).
All warnings from the federal government has fallen on deaf ears.
For Nigerians hoping to have a good Yuletide celebrations by cashing out of Mavrodi Mondial Moneybox (MMM), their plans may have to be revised as the alleged Ponzi scheme has frozen accounts of its Participants in Nigeria for one month.
The operators of the scheme said in a message sent to all subscribers that the measure was put in place because “in the New Year season the System is experiencing heavy workload.”
During the period – December 12 to January 12 – none of the participants would be able to ‘get help’ (withdraw funds deposited with the mandatory 30% interest). But it is unclear if they would be able to ‘provide help’.
Nigerian government and the media were also blamed for creating a sense of fear in the minds of MMM subscribers, which the founder of the scheme Sergey Mavrodi said was due to lack of knowledge of how MMM works.
“Moreover, it has to deal with the Constant Frenzy Provoked by the authorities in the mass media,” MMM said in the message.
In his open letter to the Nigerian government recently, Mavrodi advised that MMM should be strengthened to help Nigerians thrive and redistribute wealth.
He insisted that MMM was not shady and that all participants were informed of the risks involved at the point of registration.
“You say that MMM is bad. Why? Yes, it produces nothing, but nothing gets out of the country either,” Mavrodi said. “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?”
According to a circular sent out to all user late hours yesterday, December 12, all money has been frozen for a month. The circular however calmed the participants down, saying it is to help prevent any problems during the New Year season. And also to tackle the media frenzy that has been going on in the country. See the message below:
”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,
In May, MMM South Africa announced a freeze, just like MMM Nigeria is doing now in December, but according to reports, MMM in South Africa is still frozen till now.
But some participants of the scheme are not losing sleep over the freezing of accounts, claiming that the same measure was put in place in December 2015.
The post Mmm Freezes Nigerian participants’ accounts appeared first on The Killer Punch News.
This post first appeared on The Killer Punch News | Latest News About Akwa Ibo, please read the originial post: here