Home News Nigerians Excited as MMM Returns With a Bogus Promise Of 50% ROI

Nigerians Excited as MMM Returns With a Bogus Promise Of 50% ROI

by Ayodeji Lateef

The notorious ponzi scheme, Mavrodi Mundial Moneybox better known as MMM makes a massive return after its chaotic demise in 2017; leading to massive financial losses by over 3 million Nigerians. МММ is a Russian company that perpetrated one of the world’s largest Ponzi schemes of all time, in the 1990s.

Founded by by Sergei Mavrodi in 1989, his brother Vyacheslav Mavrodi, and Olga Melnikova, the name of the company was taken from the first letters of the three founders’ surnames. Having perpetrated a world of fraud on a global scale; scamming several investors of millions of dollars, MMM Global birthed in Africa’s most populous country a few years ago.

With the juicy promise of massive returns on invested sums, the hopes of Nigerians were dashed when the programme collapsed without the fulfillment of those assurances. Unfortunately, the scheme is making a return in hopes of getting more funds out of the Nigerian population and with more promises of a 50 percent return on investment this time; 20 percent more than its previous version.

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The MMM Cooperation in announcing its return flaunted and flossed on its number of participants the world over.

“Like 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 unknown by prospective participants at the beginning; we are were we are today being most populous platform all over the world with six million participants all in space of four months,” the statement on its website read.

It is left to be seen what protocols and regulations are put in place by Nigerian financial authorities towards preventing the fleecing of Nigerians of their hard-earned money by MMM this time around. Whichever way, we know some people are already excited about the prospect and only time will tell how things pan out this time around. Remember, once beaten, twice shy.

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