MMM denies crash report, says scheme still alive

The operators of Mavrodi Mondial Moneybox (MMM) in Nigeria have denied reports that the reports that the alleged Ponzi scheme has crashed.

Rather, operators say the ‘freezing of confirmed Mavros’ was aimed at ensuring the sustainability of the scheme in Nigeria beyond 2016. They said in a message sent to all subscribers that the measure was put in place because “in the New Year season the System is experiencing heavy workload.”

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).

“The one month Freezing of Confirmed Mavros is a step to ensure the sustainability and stability of the MMM Nigeria system,” MMM said on its dedicated Twitter account. “There is no better time to PH than now when you can earn 50% more of your amount of PH. There is nothing to worry about.”

While your Mavro is in one month Freezing it continues to grow so there is nothing to be worried about. Just continue to PH to earn 50% more

— MMM Nigeria Support (@MMMNigeriaHelp) December 13, 2016

There is no better time to PH than now when you can earn 50% more of your amount of PH. There is nothing to worry about.

— MMM Nigeria Support (@MMMNigeriaHelp) December 13, 2016

“While your Mavro is in one month Freezing it continues to grow so there is nothing to be worried about. Just continue to PH to earn 50% more.”

MMM has come under intense government scrutiny, with the House of Representatives, Central Bank of Nigeria and Security and exchange Commission, at different times, warning Nigerians, against investing in the scheme, saying doing so is risky.

According to information on MMM Nigeria website, about over 2 million Nigerians are currently participating in the scheme.