Reports: MMM Ponzi scheme back

mmm

МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time, in the 1990s.

МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time, in the 1990s.
МММ was a Russian company that perpetrated one of the world’s largest Ponzi schemes of all time, in the 1990s.

Mavrodi Mundial Moneybox (MMM), the Russian-founded Ponzi scheme which dashed the hopes of over three million Nigerians in 2017, is back.

However, it has returned with a whimper.

TheCable.ng said the Ponzi scheme has repackaged itself and it is now called MMM Cooperation, promising mouth watering 50 percent return on any amount invested in it — 20 percent more than what the defunct version offered.

Some Nigerians are already falling for it.

According to thecable.ng participants are to register, invest a particular amount in the form of “providing help” and “get help” with their investment and interest back after 30 days.

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The scheme shut down in April 2018 following the death of Sergei Mavrodi, its founder.

In a surprising turn of events, however, the scheme announced it had re-launched globally since January “to make Mavrodi’s legacy worthwhile.”

“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 6MILLION participants all in space of 4months,” a message on its website read.

Read More in thecable.ng