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Sunday, 2 June 2019

MMM is Back in Nigeria As MMMC

A snapshot of MMMC website
If you think MMM, the Ponzi scheme that reigned in Nigeria for years until 2017/18 when it fell flat with many losing money amounting to 100s of millions of Naira or even billions, is gone for good, think again!
The new face of MMM in Nigeria is MMMC meaning MMM Cooperation and it seems to be thriving as one can see some testimonials on the website
Members are still working underground recruiting other members of the public to join the scheme.
The photo of the late MMM founder Mavrodi, is still proudly displayed on the left sidebar of the website and the logo of the defunct MMM is still being used on the site as if nothing ever happened. How does this affect the perception of the MMMC? Well the scheme owners alone can tell.

The MMMC Promises members a 50% growth in their initial capital after a month and from what is seen on the sight, it appears members are gaining although the identity and the genuineness of the testimonials cannot be verified since they are just texts posted by the creators of the MMMC.

The website is well detailed with sections for How To Join, Legality, etc.
Some of the testimonials:

02 June, 2019: My name is Nkhensi from south Africa I'm a member of mmm, I made a GH of R15344 and it was all paid to my bank account I'm very happy thanks to mmm.

02 June, 2019: I got help of 27,000 ref bonus on 1st June 2019 and has been fully paid.long live MMMC

The MMMC site has the photo of Mavrodi, the late founder of MMM

On the issue of legality and ownership of the MMMC, the site owner/owners wrote :

There is no formal organization, no legal person in MMM. And of course there is no central bank account, no other activity in any form. Neither close, nor open. There is nothing! There are only millions and millions of simple participants, simple private persons. And their bank accounts. And nothing more.
And of course there is no special registrations, permission and licenses in here.
(Permissions and licenses for what and for what reason? For money transfer from one man to another? And whom this licenses and permissions should be given? :-))

Thus, MMM is absolutely legal and does not break any laws. Because there are only money transfers between private persons and nothing more.
It is impossible to forbid MMM. The same way it is impossible to forbid people manage their own money the way they like. Thus they need to forbid the whole private property institution.

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