Less than 24 hours after Sergey Mavrodi, owner of MMM Nigeria wrote blasting Nigerian authorities, the digital Ponzi Scheme might have collapsed.
In a message to its members, MMM Nigeria said it is freezing all accounts for one month as a result of “heavy load” in the system.
This might mean that the scheme has finally collapsed as this was the same style that was carried out when the scheme collapsed in Zimbabwe. All participants were told that their funds were frozen for a later opening. At the time of opening, the scheme could not meet up with its demand and had to slash all funds/investments by 80%.
See the statement below:
ONE-MONTH FREEZING OF CONFIRMED MAVROS
13.12.2016
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. (Which we will definitely do.:-))
We hope for your understanding,
Administration
There is a high possibility that MMM Nigeria might be slashing Mavros of all its old members numbering to about 2 million according to its own data released last month.
The eventual panic might end up straining the system to a final collapse when and if it eventually opens back.
The collapse of MMM Nigeria has been predicted for a long time over the flurry of people trooping to the scheme to “cash out” big and make money for consumption and personal needs.
Should MMM Nigeria finally collapse, a Ponzi Scheme analyst said Nigerians will lose over NGN10 billion. This according to him is a conservative figure given the average amount paid in by ‘locked in” members/investors. These are people who are waiting for at least 2-4 weeks to collect their investment with the promised 30%.
I don’t think the MMM Nigeria has crashed. I think they are taken a measure to prevent the crash. If the number of people given help is smaller than those getting help. It will definitely put pressure on the system. More so the bad news spreading by the mass media against the scheem could also create panic among people. Hence the people rushing to get help.
Don’t mind Nigeria media most especially this so called bloggers that are carrying fake and self-understood news just to pull traffic to their blogs, can you guys just stop putting fear into this people. MMM is taking a hard measure to prevent collapse and your headlines are mmm collapses
I am very confident in this scheme I have studied the scheme and realized that the requisite precautionary measures to avert any form of crash was taken even before Government took to social media to condemn mmm.
I would prefer our Government to take a leave from mmm and adopt some of her ideologies to save our nose diving economy .
I have learnt a lot from mmm guiders school which is very practical. As a graduate of Marine Engineering , I have in one month , learnt so much from mmm that I did not obtain in school . And this is a course for worry . Which I do advocate that our tertiary institutions should emulate to ensure seasoned graduates emerge from our tertiary institutions of learning