Mavrodi Mondial Movement simply known as MMM is a Ponzi scheme that will linger on for a long time in the minds of Nigerians. The reason being that over three million investors in the Ponzi lost N18 billion to the scheme. After they had been rest assured that they had lost their investment in the scheme, most participants are yet to recover from the debt incurred and they’ve continued to lament. However, MMM had reportedly resurfaced on Nigeria’s democracy day, throwing a green party in the federal capital territory, Abuja.
Meanwhile, MMM has resurfaced again, this time in Lagos state at three different hospitals. The Ponzi scheme in conjunction with an NGO, Life Changing Humanitarian Services, visited three hospitals and donated groceries and other relief materials to the hospitals last week. They also offset the medical bills of 14 patients. The hospitals visited include Oyems B Hospital at Iyana Iba, KJ Hospital and one other hospital all in Ojo, Lagos state.
However, this didn’t go down well with most of the former participants who lost their money in the Ponzi scheme as they tagged it ‘mere deceit’.
In this chat with ENCOMIUM Weekly, former MMM participants revealed their take on the new style of the Ponzi scheme.
Here are their reactions.
I lost my N70,000 to that ponzi scheme. I wish there was a kind of meeting point for all that was duped so that we can meet and look forward to destroying every plan of those behind that ‘scam’. You can imagine how they turned themselves to charity giver all of a sudden and they were not rounded up by the police. This is too saddening, people do illegal businesses in this country and get with it. It’s just too bad.
The act only shows the level of lawlessness in the country. I mean, thousands of Nigerians were duped by these people and they still have the guts to resurface under the same name and the government is doing nothing about it. How will they tag what they are doing now? Will they say that they are giving back to the society? They are criminals and they should be treated accordingly. I lost nothing less than N300,000 to them.
MMM is nothing but a scam and those behind it are fraudsters, and whatever they do now is nothing but mere deceit. I still can’t believe they duped such huge number of people and went scot free, because the scheme looked too real to be fake. I started with N1,500 and after winning severally, I introduced my brother and we jointly injected N150,000 to the scheme not knowing we won’t get a penny in return.
Even if they can’t multiply the money as promised, shouldn’t they have returned our real money? They are thieves and God will punish them accordingly because they spoilt peoples’ plans and ruined a lot of people’s lives.
I wouldn’t condemn what MMM has done to us because I could remember that government warned us against it. But we all wanted ‘quick’ money, so we turned deaf ears to those warnings. MMM won’t be the first to dupe Nigerians and go scot free, it has been happening. Our politicians too have been duping us and we have not been doing anything about it, rather we praise them. If we call those that own MMM thieves, what then should we call those of us that participated in it? What kind of business will you do in Nigeria today that will give you twice the amount you invested in such business in less than one month? You can see we brought this upon ourselves, no one is to be blamed except we the participants. If they opened such site and no one participated, they would be forced to close it. I lost close to N500,000.
That is Nigeria for you. It’s only in our dear country that criminals walk freely on the street. I have decided not to talk about MMM again because the money I used for the ponzi almost ruined my business. My business has not balanced ever since then. I invested N320,000 in it and I lost it all. The only reason why they have the nerve to resurface is because the government has refused to take any bold step concerning the issue. Had it been we live in a country where law always takes its place, those behind the scam would have been apprehended by now.
If not that those they rendered help to actually needed some help, I would have cursed them all. They (MMM) made some people cry and in turn put smile on some people’s faces. I can bet that the help they rendered is not worth one third of what they stole from us. Nemesis will catch up with them because I used part of my school fee to play that game. I lost N30,000.
- AZEEZAT KAREEM