Countries where MMM was banned

Millions of investors in Nigeria are panicking that they have lost their money after the Mavrodi Mundial Moneybox (MMM) scheme froze all existing Movros till January 2017.

The ponzi scheme had run into problems in some European and Asian countries where it was declared fraudulent.

South Africa, Zimbabwe and some East African states have had similar experience of the scheme freezing all Movros when the number of people in need of help outnumbered the number of people joining the system.

Initiated in Russia,the Russian police shut down MMM on July 22, 1994. It was also banned in January 2016 in China by the Chinese government which declared it a fraud scheme.

Below are the lists of countries where MMM currently operates.

1. Argentina
2. Australia
3. Bangladesh
4. Brazil
5. China
6. East Africa
7. Egypt
8. France
9. Ghana
10. Hong Kong
11. India
12. Indonesia
13. Italy
14. Japan
15. Korea
16. Kuwait
17. Malaysia
18. Mexico
19. Nigeria
20. Peru
21. Philippines
22. Singapore
23. South Africa
24. Spain
25. Thailand
26. Turkey
27. USA
28. Venezuela
29. Vietnam

-OLUWAFEMI SOEWU