Thursday, 22 December 2016

MMM founder accuses Nigerian media of causing panic among participants

As subscribers await the resumption of operations of Mavrodi Moneybox Mondial (MMM) Nigeria in January 2017, the founder of the Ponzi scheme Sergey Mavrodi has accused the Nigerian press of deliberately “fueling hysteria around MMM and causing panic.
The operators of the scheme in Nigeria said in a message sent to all subscribers on December 12 that all confirmed Mavros would be frozen for one month.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 they allowed to ‘provide help’ (deposit funds).The scepticism and panic that followed the announcement were caused by the media, Mavrodi said.
He said, “I’m just astonished by your irresponsibility and cynical attitude. Interests of millions of people, your fellow citizens are at stake. Don’t you have any sympathy for them? Why are you fueling hysteria around MMM and provoking a panic? Why are you doing this so diligently and persistently, what is your purpose?”

He insisted that operations of the scheme would resume in January, noting that the “suspension of work for holidays” was not unusual. His claims contradicted the reason the Nigerian operators of MMM gave for freezing the confirmed Mavros for one month. They explained that the measure was put in place because “in the New Year season the System is experiencing heavy workload.”

But Mavrodi insisted all was well with MMM Nigeria and urged the press to desist from being biased against the scheme.He said, “Again, leave MMM alone and let us work. Nothing has collapsed, and MMM will perfectly resume its work in January. We Can Change the World

Some Abuja residents on Thursday said that they have benefited immensely from the popular financial programme, MMM Nigeria Scheme, and have no intention of leaving the scheme anytime soon.
The Mavrodi Mondial Movement popularly known as MMM has gained popularity among Nigerians as the programme promises a monthly payment of 30 per cent interest on loans provided by participants.
The News Agency of Nigeria (NAN) reports that in spite of the order, MMM’s membership had continued to grow.Some residents who spoke to NAN said that MMM was very beneficial to Nigerians.Ebube osakwe, a civil servant told NAN that she doesn’t see the programme as a Ponzi scheme and believed it could help many Nigerians.
“When I heard about it, I was skeptical at first, but I decided to test the system by putting in N20,000 to see if I would get the money they claimed.“To my surprise, a month later, I got my N20,000 with my 30 per cent interest and an extra bonus.
“I was amazed by the success so I put more money into the system and have benefitted from it.“This programme has helped many Nigerians deal with this recession so I don’t see the wrong in it. Godwin Dickson, a mechanic said that the scheme had helped him with his finances, adding that it had assisted him immensely in paying his debts.“I don’t care what anyone has to say about MMM because as far as I am concerned, it has saved my life.
“I have paid off my debts and I have been able to generate extra change to take care of my household.“I owed someone a large sum of money and someone introduced me to MMM and loaned me N500,000 to put into the scheme.
“The money I got back was able to clear all my debts at once and I was able to finally breathe again.“I am aware of the risks of this programme, but it is also a lifesaver and I will advise more Nigerians to get involved at least for now that it seems safe,” he said.
Joyce Okoh, an entrepreneur, said that she was certain the business would crash at a point, but she would take advantage of it while it lasts.“I know that this programme has failed before in some countries and I admit it is a sort of Ponzi scheme but why should I complain when I am benefitting from it?
“MMM is bound to fail whether the government bans it or not, because the process is supported by new members funding the profits to be made by older members which will crash at some point.“However, I have made a large sum of money from this programme and I am willing to continue reaping the benefits it is offering for now.
“I just have to ensure I don’t get greedy and invest my whole savings or sell my property like many people have done because when it crashes, people will become suicidal.“I think the key thing here is to know your limit and know when to bow out of the programme,” she said.

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