After MMM returned to Nigeria as promised, many account holders in the ponzi scheme have revealed that they are still unable to get paid any return on their investment. MMM also released a new condition which said those with little investments are to be paid first before those who invested heavily.
Meanwhile, MMM’s top guider in Nigeria and first initiator of the ponzi scheme, Mr. Chuddy Ugorji has reportedly fled the country with his wife, Amaka, to the Philippines with suggestions that he ran away because MMM might not be able to pay its millions of participants again.
Many are optimistic about the return on their investment as promised by MMM, while others think as a ponzi scheme, MMM has truly crashed as participants are yet to have back their money weeks after their return.
ENCOMIUM Weekly spoke with some of those who lost their money in the ponzi scheme. In the chat, they revealed they are yet to get back their money as promised but they have been connected with those who are supposed to pay them but they are yet to be paid.
‘I am a victim of MMM’ – RASAQ
I have accepted that I lost N80,000 for investing in a ponzi scheme. At first, I thought MMM was a free money thing. I had the feeling that I could turn a big boy in town by getting money that I didn’t work for. But I ended up being the victim.
‘My friend pushed me into investing in it’ – EFE
My friend pushed me into investing in the scheme sometime last year. I was afraid of investing at first but I ended up giving in. I invested N100,000 at first, I got back 130,000 within the period of 3 weeks. I later invested N150,000 late November last year and my money was trapped in the scheme till this moment. I’m not bothered anyway because another ponzi scheme has actually paid back more of what MMM is owing me.
‘I’m not bothered about MMM crashing’ – DANIEL
Personally, I’m not bothered about MMM crashing because I was advised to invest with my spare money. I started with N30,000 with constant re investing until I invested N200,000 before it crashed. MMM paid me more than 6 times. So, no pain, no gain. Other ponzi schemes are in town now paying us better.
‘MMM can never pay back what those involved have to collect’ – MRS. FAVOUR
MMM can never pay back what those involved have to collect. The system has eventually crashed but they keep deceiving us to keep investing. I have forgotten about MMM and even other ponzi schemes. I can’t disclose the amount I lost to anyone but it’s a good sum of money. It’s painful really but I just have to take it as a sacrifice.
‘I invested my savings in MMM” – KABIRU
One of the biggest mistakes I made was to invest in MMM with my saving. I invested almost all I had in my bank account. Losing such amount to a ponzi scheme was a good experience. I had a terrible headache the first time I heard the scheme has frozen all mavros. I have to just stop myself from MMM issues and concentrate better on settling my financial life.
‘I think I was just being greedy for investing at first’ – OLALEKAN
I think I was just being greedy for investing at first. I knew what a ponzi scheme was before investing. I experienced how wonder bank disappeared with participant money without returning a dime. I was just convinced to invest by a friend who keeps getting payment alert from the scheme. I invested and my money was frozen. It’s really a ponzi scheme my brother.
‘I don’t want you to remind me again’ – BOLU LAWAL
My money is gone and I don’t want you to remind me of what I’m trying to forget.
‘I’m done investing in ponzi schemes’ – KEJI JUMOKE
I lost N30,000 to MMM and I was very sad. I was trying to forget about MMM when I heard of another paying ponzi scheme called Giver circle. I invested another N20,000 on Giver circle and I got N60,000 back within 3 days. I’m done investing in ponzi schemes.
‘On MMM, nobody to question’ – Rachael Agbor
MMM is gone and we are no longer bothered about the scheme. Though those who lost more than N500,000 in the scheme might find it very hard to forget, it’s a ponzi scheme. No body to question. I have an Uncle who invested N600,000. His business suffered a lot of set back during that period but he’s doing fine now.
Trending online ponzi schemes
After the crash of the popular ponzi scheme MMM, other online money making portals have been trending. Nigerians seem to have found solace in Online Ponzi schemes due to the awareness created by MMM Nigeria last year. Many investors who lost their money in MMM patronise the emerging online ponzi schemes more with the hope of getting back what they have lost to MMM.
Emerging ponzi schemes after the crash of MMM pay participants better in probably the first and second week of operation before going down. Investors are also following the trend as people invest more in new online ponzi schemes and after getting their first payment they will opt for another scheme leaving those who are joining the scheme later trapped.
ENCOMIUM Weekly’s findings, revealed over 40 online ponzi schemes today. Here are the trending online ponzi.
* ABC Donor
* Alliance Wealth Project
* Blessed Givers
* Changing Lives Online
* Exclusive Earners
* Get Help Worldwide
* Heavenly Pay
* Kosher Naira
* Liberty Funds
* Lifters club
* Loopers Club
* Mega Profit
* MMM Nigeria
* MMM Tips
* MMM West Africa
* NAIJA CASH
* Naira Propeller
* NNN Nigeria
* Ponzi Schemes
* The helpers club
* Ultimate Cycler
- OLUWAFEMI SOEWU