MMM to release money in batches, relocates to Kenya

Less than a week after it froze accounts of Nigerian participants, a mysterious website has popped up claiming that the authorities of the popular ponzi scheme, MMM, is set to lift the ban it placed on monies in the scheme following outcry by participants of the scheme in Nigeria, just as the scheme has moved to Kenya.

The news of the ban lift is coming after a purported  emergency meeting was  held  on Wednesday, December 14, 2016 by MMM Nigeria Global, which said the ban was to restructure the scheme.

At the end of the meeting, MMM Nigeria issued a communiqué that, within the one month of mavro ban, it will continue growing.

“The freeze periods may even be less than one month, but it all depends on programmers and how fast they can finish. This year, we will have a new model to help make this community sustainable in Nigeria.

“We will post clarification with more details about the frozen mavro on everyone’s Personal Office (PO). Some mavros will be released before the 30 days release date probably in batches.

“Next week, we will implement change of guider button on every participants PO. New section in our PO will be installed this week. PH and GH order dispatching has been stopped for a while, meaning they aren’t matching anyone for the meantime. We will use this period to tackle other issues we have with support.”

The leadership of the scheme in Nigeria said the progress, failure and expectation of the scheme depends on the participants.

“MMM Nigeria’s progress depends on you, your expectation determines the future. You determine what you want. You have to encourage yourselves and your downlines.”

Recall that MMM froze mavros of participants for one month, but its Nigerian operators have recently said the ban might be lifted within days.

However, on the MMM reclaimed website, it specified that it will help MMM Nigerian participants reclaim their mavros. “Nobody deserves to be made to suffer for helping others. We will help you reclaim your mavros,” the website said.

Meanwhile, latest report said that the ponzi scheme has moved to Kenya. Naij.com reports that in Kenya, the scheme has promised a 40 per cent profit for every investment by participants, unlike the 30 per cent return for people who participated in the pyramid scheme in Nigeria and South Africa.

Just like Nigeria, MMM Kenya already has a Facebook account and YouTube account. A circular sent out to all users of the scheme during the late hours of Monday, December 12, said all money has been frozen for a month. The circular, however, calmed the participants down, saying it is to help prevent any problems during the New Year season and also to tackle the media frenzy that has been going on in the country.

The letter read: “Dear members! As usual, in the New Year season, the system is experiencing heavy workload.

Moreover, it has to deal with the constant frenzy provoked by the authorities in the mass media. The things are still going well; the participants feel calm; everyone gets paid – as you can see, there haven’t been any payment delays or other problems yet – but it is better to avoid taking risk.”

Moreover, there are almost three weeks left to the New Year, hence, on the basis of the above mentioned, from now on all confirmed mavro will be frozen for a month. The reason for this measure is evident. We need to prevent any problems during the New Year season, and then, when everything calms down, this measure will be cancelled.”

‘’We hope for your understanding, ‘’Administration’’

In May, MMM South Africa also announced a freeze. According to reports, it is still frozen till now.

Recall that both the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) have warned investing public over the scheme.