After January 13, 2017 return to Nigeria, many account holders in MMM Nigeria 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 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.
‘MMM only taught me the real definition of a ponzi scheme’ – WALE ARE
MMM participants have no other reasonable choice than to move on. I am also one of their investors and I invested just N60,000 in the ponzi scheme before it crashed. I felt bad about it for a while but I have to get my mind off it to concentrate on other things. MMM only taught me the real definition of a ponzi scheme.
‘I felt like a greedy man after the scheme crashed’ – EKENE FEDELIS
I regret investing in MMM and that still remains my biggest regret in 2016. I felt like a greedy man after the scheme crashed. I’m the type that doesn’t fall for those quick money schemes of a thing but I was forced into it by a colleague at work. I have decided to keep the amount I invested to myself because it’s not a small amount. I couldn’t even tell my wife about it. It’s very painful.
‘It’s a very big lesson for every one of us’ – DENILSON AJAYI
I have decided not to talk to anyone about the issue of MMM again because a lot of people, especially on social media took it slightly like it’s a joking matter. We are talking about huge amount of money that was lost here. Many have died because of MMM palaver, so many couples breaking up, many children are now out of school. It’s a very big lesson for every one of us.
‘Since the crash, I found it very difficult to sleep’ – FAVOUR ACHI
When the scheme crashed last December, I found it very difficult to sleep. They later promised us January 14, 2017 return but lo and behold. Since their return, I’m yet to get back my money. Thank God I’m getting over it already. I no longer think about having back my money.
‘It’s a very unpleasant thing to hear’ – MR. KENNETH
I invested N200,000 in MMM and my wife also pledged N150,000 with the hope of getting back almost double for the New Year but everything is gone. I stopped thinking about it not until last week when my wife got provoked and went to our guilder. She was told we have to pledge another amount in order to have access to her old mavros. It’s a very unpleasant thing to hear. It clearly states that MMM has crashed and other investors should just forget about it too.
‘There’s no free money anywhere’ – FAWOLE ADEJARE
Let us all just see MMM as an eye opener. There’s no free money anywhere. If you want to earn more, you should double your hustle. I lost N150,000 to the scheme. It wasn’t funny because I actually wanted to start with N500,000 but my friend, who introduced me to the scheme warned me to start with a small amount and I heeded his advice. I went back to the internet and I realised the real definition of a ponzi scheme. I know my money is lost and MMM guilders should stop deceiving us all.
‘I got only N24,000 out of N50,000’ – SEUN ALASE
I have actually got back part of the amount I invested. I invested N50,000 and I got back N24,000 last week Thursday. I wasn’t expecting it anyway. It was surprise money. I quickly ran to the bank to withdraw the money. I just hope to have back the remaining N26,000.
‘I will never invest in the scheme again’ – SARAH OLUYEMI
I invested N30,000 and I have been paid. I think I was just lucky because many of my colleagues who we started the scheme together are yet to get a dime. I’m very happy that I could even have back my money. I will never invest in the scheme again.
- OLUWAFEMI SOEWU