Tag: MMM

Three Million Nigerians Lost N18 billion To MMM Ponzi Scheme – NDIC Reveals

The Nigerian Deposit Insurance Corporation, NDIC, has said that an ?estimated three million Nigerians lost N18 billion in the MavrodiMundial Movement, MMM, ponzi scheme. While speaking at the NDIC day at the ongoing 38th KadunaInternational Trade Fair on Thursday,the Managing Director of thecorporation, Umaru Ibrahim, decried the development. Over three[Read More…]

Mavrodi Mondial Movement Resumes Operation Before Due Date

Lagos – Participants in the Mavrodi Mondial Movement (MMM) on Friday heaved a sigh of relief as the money-spinning venture promoters announced their resumption after one month break that left them in suspense. MMM promoters in a message to the participants on its portal reassured them that it was in[Read More…]

Anxiety In Nigeria As Ponzi Scheme Promoters, MMM Suspends Operation, Freezes Accounts

Promoters and participants of Mavrodi Mondial Moneybox, otherwise known as ‘MMM’ in Nigeria, are currently in panic as the ponzi scheme has been frozen. All confirmed accounts, as at early hours of Monday, were frozen. Mavro is the conventional unit for measurement of help provided to other participants in MMM.[Read More…]

“You Can’t Pay Salaries But We Have Empowered 3million Nigerians” – Ponzi Scheme Founder, MMM Mocks Buhari

Sergey Mavrodi, founder of MMM has called on the Nigerian government to look at the benefits of the scheme on Nigerians rather than the fear expressed by the federal government that it is a ponzi scheme. Mavrodi disclosed this in an open letter to the Federal Government of Nigeria on[Read More…]