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Countries where MMM was banned

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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

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